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Treasury adds to investments in U.S. banks

来源:Reuters 作者: 时间:2008-12-24 Tag:bank   点击:


Treasury adds to investments in U.S. banks
Dec 23, 5:04 pm ET

WASHINGTON (Reuters) – The Treasury Department announced on Tuesday that it completed a $2.8 billion equity investment in 49 banks on Friday and invested in 43 more on Tuesday.

The investments completed on December 19 include 14 privately held banks, the first time the Treasury has recapitalized private banks. Details of the investments made on Tuesday, including the names of the 43 banks, will not be released until Monday, December 29.

The Treasury created the capital purchase program as part of the Troubled Asset Relief Program, or TARP. It allocated $250 billion under the program to invest in U.S. financial institutions.

Congress approved a total $700 billion TARP program in October. The Treasury has drawn down $350 billion of it and now says Congress should release the rest of it, although the Bush administration has not initiated formal action to request the additional money.

(Reporting by Doug Palmer; Editing by Dan Grebler)


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