Treasury announced the following transaction details on Friday. Click here to view the banks.(PDF)
WASHINGTON – The Treasury Department said Monday that it has provided $1.9 billion to 43 banks as part of the government's $700 billion financial rescue program.
Buffalo, N.Y.-based M&T Bank Corp. received the most, getting $600 million from the Treasury in return for preferred stock and warrants. Fulton Financial Corp., based in Lancaster, Pa., received $376.5 million, the department said.
The department previously announced that it was providing the money but did not reveal the recipients' names until late Monday.
The department previously announced that it was providing the money but did not reveal the recipients' names until late Monday.
Some of the funds were granted to 20 privately held banks. A total of 34 private banks have now received funds from the financial rescue program.
Read on.
See press release on Treasury website.
Read on.
See press release on Treasury website.
Update: Treasury Announces TARP Investment in GMAC
The Treasury said in a statement it would purchase 5 billion dollars in senior preferred equity with an eight percent dividend from GMAC, which is also partially owned by Chrysler parent company Cerberus, and make a one-billion-dollar loan to General Motors.
The Treasury said in a statement it would purchase 5 billion dollars in senior preferred equity with an eight percent dividend from GMAC, which is also partially owned by Chrysler parent company Cerberus, and make a one-billion-dollar loan to General Motors.
1 comment:
Hank could figure kindergardeners milk money. He hired an adviser because China said he was stupid and Forbes said the same. It's sad the Law Makers even think because Hank held a title that he knows something. Everyone knows Hank just held the title as others did the work. Now I wonder will Hank's paid adviser need to hire an assistant adviser? Look we have money to burn and even toss away so who ever wants money just go to Hank. Hank doesn't have to account for a dime and he's spent all the 700 billion and Hank will be asking for more money before Bush's term is over. With a 100 banks closing looks like more people will lose their life savings soon.
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