Officials consider bailouts from $700 billion fund to prop up struggling community banksSeptember 25th, 2009 Bailout money for smaller banks being weighedWASHINGTON — Federal regulators and lawmakers are weighing a fresh round of bailouts for banks that were too small or too risky to qualify for earlier aid. Representatives from the Treasury Department, Federal Deposit Insurance Corp.
Report: US makes $4 billion in profits from large banks in federal bailoutAugust 31st, 2009 Report: US makes $4 billion from bailout banksWASHINGTON — The U.S. government has hauled in about $4 billion in profits from large banks that have repaid their obligations from last year's federal bailout, The New York Times reported Sunday.
Bank of America authorizes $713 million payment to government under TARPJuly 2nd, 2009 Bank of America sets $713 million TARP paymentCHARLOTTE, N.C. — Bank of America Corp.
Treasury OKs 3 more firms for mortgage relief program; $3.4 billion to Hartford FinancialJune 30th, 2009 Treasury OKs 3 firms for mortgage relief programWASHINGTON — The Treasury Department said Tuesday that it has approved three more firms for its mortgage relief program. The new approvals brought the number of companies participating in the mortgage effort to 23 with the total amount authorized for all of the firms rising to $17.98 billion out of a maximum of $50 billion the government has said it could spend on this program.
Treasury says decision on bank stock warrants tied to bailout program could come MondayJune 19th, 2009 Treasury: no decision yet on bank stock warrantsWASHINGTON — The Treasury Department and the nation's largest banks are still negotiating over what price the government should receive for stock warrants and an announcement has been delayed until next week. Treasury Department spokeswoman Meg Reilly says the announcement is expected no earlier than Monday.
10 large US banks to repay government $68 billion in bailout funds, industry officials sayJune 17th, 2009 10 large US banks to repay $68B in TARP fundsWASHINGTON — Ten large U.S. banks are planning to repay the government about $68 billion in bailout money Wednesday, a pair of industry officials say.
Morgan Stanley pays back Treasury $10 billion in bailout fundsJune 17th, 2009 Morgan Stanley pays back $10B in bailout fundsNEW YORK — Morgan Stanley said Wednesday it repaid the $10 billion it received last fall as part of the government's $700 billion bank investment program. Morgan Stanley received the money as part of the Treasury Department's Troubled Asset Relief Program to help revive the stagnant credit and lending markets amid one of the worst periods of the credit crisis.
Bailout overseer says Bush administration initially underestimated banks' struggles last yearJune 10th, 2009 Bailout overseer: Bank repayments sign of progressWASHINGTON — The head of a congressional panel overseeing the federal financial system bailout fund says Washington initially underestimated how much banks in America were struggling to stay afloat. Elizabeth Warren says the approval of a repayment to the government of $68 billion by several of the banks receiving taxpayer assistance amounts to "phase two of the economic recovery" in the system.
US lets 10 big banks start repaying bailout moneyJune 9th, 2009 WASHINGTON - The US government has cleared the way for 10 big banks to start repaying billions of dollars in bailout funds, a crucial step in easing the adminstration' grip after an unprecedented series of interventions. The banks were deemed strong enough to leave the Troubled Asset Relief Programme (TARP) after months of lobbying and strong performances on recent stress tests, the New York Times reported Tuesday.
Fed issues guidelines for banks to repay bailouts; JPMorgan & Amex to sell stock to repay aidJune 2nd, 2009 JPMorgan, Amex launch stock offers to repay TARPWASHINGTON — JPMorgan Chase & Co. and American Express Co.
Fed issues guidelines for big banks to repay bailouts; must 'reduce reliance' on governmentJune 1st, 2009 Fed outlines rules for repaying bailout moneyWASHINGTON — The Federal Reserve on Monday laid out rules for banks seeking to repay taxpayer bailout funds, clearing the way for the 19 largest financial institutions to wind down their reliance on government support. The rules apply to the nation's 19 largest banks, which have assets of more than $100 billion and were subjected to "stress tests" to determine their financial strength.
Treasury says 11th bank has repaid support it received from $700 billion financial rescue fundMay 8th, 2009 Treasury says 11th bank has repaid bailout fundWASHINGTON — A Texas bank has become the 11th financial institution to return the money it received from the government's $700 billion bailout fund. The Treasury Department reported Thursday that Sterling Bancshares Inc.
Government gives big banks rules on how they will be able to exist from bailout programMay 8th, 2009 Gov't sets rules to leave bailout programWASHINGTON — The nation's largest banks that want to exit the financial rescue program will have to demonstrate to the government that they can survive without its support. In a joint statement, Treasury Secretary Timothy Geithner and other government banking officials said Wednesday that the 19 largest banks seeking to withdraw from the $700 billion rescue program will have to prove that they can borrow money without the support of the Federal Deposit Insurance Corp.
Official: Banks must shed FDIC guarantees if they want to return bailout fundsMay 6th, 2009 Official: Bailout returns will have conditionsWASHINGTON — The government will require banks seeking to return federal bailout money to prove they don't need other special federal assistance, a condition that will make it harder for some institutions to escape restrictions on executive compensation. The new requirement represents another shift in a changing landscape for banks.
Treasury gives $121.8 million to 12 banks under $700 billion bailout programApril 28th, 2009 Treasury gives $121.8M to 12 banks under bailoutWASHINGTON — The Treasury Department has approved 12 more banks to participate in the $700 billion financial rescue program. The 12 institutions will receive a total of $121.8 million, Treasury said Tuesday, with about half going to Standard Bancshares Inc.