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.
Senate confirms former head of Fannie Mae to oversee government's $700B bank bailout programJune 20th, 2009 Former Fannie Mae head to take over bank bailoutWASHINGTON — Herbert Allison, the former head of troubled mortgage giant Fannie Mae, has been confirmed to oversee the government's $700 billion bank bailout program. The Senate voted Friday to confirm Allison as the Treasury Department's assistant secretary for financial stability.
Moody's sees no benefit for creditors from bank TARP repayments; no bank ratings changedJune 18th, 2009 Moody's: TARP repayments don't change bank ratingsNEW YORK — The repayment of about $68 billion in bailout money by 10 large banks may seem like signs of financial strength, but Moody's Investors Services said late Wednesday it's not in the interest of creditors in the short term. The ratings agency said "the repayments have the immediate effect of lowering capital levels and of shrinking liquidity positions at a time when economic and financial market conditions remain highly unsettled."
Moody's does not expect to lower the ratings of the 10 banks — among the largest in the country— who made repayments Wednesday.
Person familiar with situation says Morgan Stanley to repay bailout money WednesdayJune 17th, 2009 AP Source: Morgan Stanley to repay TARP WednesdayNEW YORK — Morgan Stanley is expected to repay its government bailout money on Wednesday, according to a person familiar with the talks between the bank and the government. The investment bank will return all of the $10 billion in loans it received last fall during the height of the credit crisis, said the person, who spoke on condition of anonymity because he is not authorized to speak publicly about the bank's plans.
BB&T redeems $3.1 billion of preferred stock issued to Treasury; plans warrant buybackJune 17th, 2009 BB&T pays Treasury more than $3.1B to exit TARPWINSTON-SALEM, N.C. — BB&T Corp.
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.
16 of 19 stress-tested banks raise $75.2B in capital since early May, mostly by selling stockJune 8th, 2009 Stress-tested banks raise $75.2 billion in capitalSixteen of the 19 large banks that underwent government stress tests last month have raised more than $75 billion in capital, either because regulators required it or because the banks want to return federal bailout funds. Banks have also been issuing debt to prove to officials that they can finance operations on their own.
Obama's pick to oversee $700B bank bailout says more time is needed for program to workJune 4th, 2009 Treasury nominee says give bailout a chanceWASHINGTON — President Barack Obama's pick to oversee the $700 billion bank bailout program told Congress Thursday that more time is needed for the recovery plan to work. Herbert Allison, who once led troubled mortgage buyer Fannie Mae, said the nation shouldn't be fooled that government aid is no longer needed because some banks have started repaying the money.
JPMorgan Chase seeks to raise $5 billion in bid to repay government's TARP programJune 1st, 2009 JPMorgan Chase to raise $5 billion to repay TARPNEW YORK — JPMorgan Chase & Co. said Monday it plans to raise $5 billion through a common stock offering as it seeks to repay the $25 billion that the bank was awarded in the government's troubled asset relief program.
Citigroup's loans using TARP grow to $44.75B; bank sets aside $5B to lend to municipalitiesMay 12th, 2009 Citigroup: TARP loans near $45 billion markNEW YORK — Citigroup Inc. is using its $45 billion in government capital to make nearly that much in new loans.
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.
State, local governments plead for bailout money after Lehman Brothers collapseMay 5th, 2009 State, local gov'ts seek bailout after Lehman fallWASHINGTON — State and local governments are pleading with Congress for bailout money to offset losses suffered when Lehman Brothers collapsed. Officials from Florida, Colorado and California said Tuesday that it's not fair that the government bailed out the likes of AIG but allowed Lehman to fail.
Prosecutors: Tenn. financier who embezzled $11M pleads guilty in first bank bailout fraud caseApril 30th, 2009 Tenn. financier pleads guilty in bank fraud caseNASHVILLE, Tenn. — Prosecutors say a Tennessee financial adviser has pleaded guilty to criminal charges in the first fraud case related to the federal bank bailout program.
Lawyer: Financial adviser to plead guilty to criminal charges in first bank bailout fraud caseApril 23rd, 2009 Lawyer: Guilty plea coming in bailout fraud caseNASHVILLE, Tenn. — A former financial adviser in Tennessee will plead guilty to criminal charges in the first fraud case related to the federal bank bailout program, his lawyer said Wednesday.
Criminal charges added in first bank bailout fraud case; Lawyer says guilty plea plannedApril 22nd, 2009 Criminal charges added in bank bailout fraud caseNASHVILLE, Tenn. — A defense lawyer says a former financial adviser in Tennesee will plead guilty to criminal charges in the first fraud case related to the federal bank bailout program.
Loading ...