stelauguqdinec.blogspot.com
According to MarketWatch, and are not amont them. The department says the which it didnot name, have met the requirements for repaymengt established by federal banking supervisors. It says many banks recentluy have raised equity capital from private investors and haveissued long-ter debt that is not guaranteed by the “These repayments are an encouraging sign of financial repair, but we stillk have work to do,” Treasury Secretaru Tim Geithner says. According to MarketWatch, the bankss permitted to pay back the funds are JPMorganbChase & Co., Goldmanj Sachs Group Inc., Morgan Stanley, American Express, Bank of New York State Street, US Bancorp, BB&T Corp.
, Capita One Financial Corp. and Northern Trust. More than 600 bankss received a total ofnearly $200 billion through the department’sz Troubled Asset Relief Program. About $2 billion of that moneh was paidback previously. Charlotte-based BofA received a total of $45 billion through the San Francisco-based Wells Fargol (NYSE:WFC), which acquired of Charlottes latelast year, got $25 billion from the TARP which is designed to thaw the credit market s and boost the economy. Under the banks retiring their preferred stocik can repurchase the warrants held by theTreasuru Department. Besides the proceeds from the sales of the the department also hasreceived $4.
5 billiojn in dividend payments from program participants. Proceedsx from the repayments will go to theTreasury Department’ general fund. The funds can be used to reduce the nationakl debt and can serve as a cushion in case the departmentt needs to respond to financiapl emergencies in the thedepartment says.
No comments:
Post a Comment