Treasury says 3 more investment firms approved for toxic asset purchase programOctober 4th, 2009 3 more investment firms approved for asset programWASHINGTON — Three more large investment firms have raised sufficient capital to participate in the joint partnership with the government to purchase toxic assets from banks. The Treasury Department said Alliance Bernstein LP and BlackRock Inc., both headquartered in New York City, and Wellington Management Co., based in Boston, had all raised the $500 million minimum to begin operations.
Senate Republicans, 1 Democrat want Treasury to end bailout plan by Dec. 31September 21st, 2009 Senators urge Treasury to end bailout programWASHINGTON — Forty senators — all but one of them Republican — want the Obama administration to let the $700 billion financial rescue program expire by year's end, saying the money has been used in ways not contemplated by Congress. In a letter to Treasury Secretary Timothy Geithner, the senators said the program's unobligated funds should be used to reduce the national debt.
Treasury says loans held by the largest banks getting bailout support decline again in JulySeptember 15th, 2009 Treasury lending report sees another declineWASHINGTON — Lending by the largest banks that received government bailout support declined for the sixth consecutive month in July, the government said Tuesday. The Treasury Department said in its monthly report that average loan balances at the top 22 recipients of government bailout support dropped by 1 percent in July.
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.
Inspector general: Treasury has not adopted accountability measures for bailout programJuly 20th, 2009 Watchdog: Treasury bailout disclosure falls shortWASHINGTON — The government's main watchdog over the federal financial bailout says the Treasury Department has repeatedly failed to adopt recommendations aimed at making the $700 billion program more accountable and transparent. Neil Barofsky (buh-RAHF'-skee), the inspector general for the Troubled Asset Relief Program, says in a report to Congress that Treasury's inaction means taxpayers have not been told what the financial institutions that have received assistance are doing with the money.
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.
List of 10 banks that got Treasury approval to pay back their bailout moneyJune 9th, 2009 List of 10 banks that will repay bailout moneyThe Treasury has given 10 banks permission pay back a total of $68 billion in government bailout money. The banks include the eight recipients of bailout money that passed regulators' stress test last month, plus the investment bank Morgan Stanley and Chicago-based custody bank Northern Trust Corp.
Obama calls $68B bank repayments to government 'an initial return' on taxpayer investmentsJune 9th, 2009 Obama hails bank repayments of $68B to TreasuryWASHINGTON — President Barack Obama is complimenting banks that are reimbursing taxpayers to the tune of $68 billion in federal bailout assistance. Appearing at a White House event to call attention to slow the pace of government spending, Obama stressed that the deal to repay this sum "is not a sign that our troubles are over — far from it."
But he did call it a "positive sign" and said he is happy that people are beginning to see "an initial return on a few of these investments."
The Treasury Department did not identify the banks involved in the repayment.
Treasury says 12th bank has repaid support it received from $700 billion financial rescue fundMay 8th, 2009 Treasury says 12th bank has repaid bailout fundWASHINGTON — A Texas bank has become the 12th 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.
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.
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 provides $45.5 million to 7 new banks as part of $700 billion financial rescueMay 5th, 2009 Treasury provides $45.5M to 7 banks from bailoutWASHINGTON — The Treasury Department said Tuesday seven more banks have been approved to participate in the government's $700 billion rescue effort, and that a Colorado mortgage company was chosen to participate in a foreclosure mitigation program. The department said the government would purchase a total of $45.5 million in preferred stock in the seven banks, bringing the total supplied through the program to $198.02 billion for more than 500 banks.
Treasury selects 3 asset management firms for bailout program that buys bank stockApril 22nd, 2009 Treasury picks asset management firms for bailoutWASHINGTON — The Treasury Department on Wednesday selected three management firms to handle bank assets obtained as part of the $700 billion financial rescue program. The assets include stock warrants that Treasury has received as part of its program to buy nearly $200 billion in preferred shares in banks to help bolster their capital reserves and resume more normal lending to consumers and businesses.
Loading ...