Items Tagged with 'Capital Purchase Program'

ARTICLES

  • M & T Bank Repays TARP Funds

    M&T Bank, based in Buffalo, NY has repaid $700 million in Troubled Asset Relief Program funds received, which includes an amount owed by Wilmington Trust Corporation that M&T had recently acquired.   Under the capital purchase program, the Treasury received $370 million in shares from M&T and $330 million in shares from Wilmington. The repayment brings the total of repayments to about $252 billion with about $145 billion still outstanding.  When evaluated separately, the TARP capital purchase program will ultimately lead to a $20 billion positive return for taxpayers.  However, according to the CBO, when factored in with other
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  • Oversight Board Sees TARP Aiding Borrowers

    Efforts by federal regulators to promote liquidity in the asset- and specifically mortgage-backed securities market has overall helped mortgage borrowers, according to a second-quarter report by the Financial Stability Oversight Board on the Treasury Department's implementation of the Troubled Asset Relief Program (TARP) and other programs within the Emergency Economic Stabilization Act of 2008.
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  • House Committee Considers TARP Reinvestment

    The House Finance Services Committee today heard testimony on HR 3068, the TARP for Main Street Act of 2009. The bill, by the committee's chairman Barney Frank, D-Mass., reinvests $6.5bn of Troubled Asset Relief Funds to housing and homeownership efforts.
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  • Regulators Brace for TARP Exodus as Banks Snub PPIP

    [Update 1 adds details regarding BofA and Morgan Stanley.] Hours before US Treasury Department secretary Timothy Geithner warned today that toxic asset-purchasing plans are beginning to look less appealing to banks, the Federal Reserve outlined criteria it will use to evaluate applications by the 19 largest banks to redeem US Treasury capital.
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  • Putting TARP to Work

    Banks can now use US Treasury Department capital acquired through the Troubled Asset Relief Program (TARP) toward their Tier 1 capital. This boosts capital ratios and puts TARP money to work not only as a liquidity injection but also as a potential lift to the same capital ratios studied by regulators as part of the government-initiated stress tests. The Fed's announcement comes as many large banks are interested in a TARP exit, lining up to repurchase stocks
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  • TARP Repayment Line Grows

    As the deadline for capital plans under the government's stress test requirements approaching, the line of banks jostling toward the TARP exit sign grows. Additionally, three large institutions, Goldman Sachs [stock GS][/stock], JP Morgan Chase [stock JPM][/stock] and Morgan Stanley [stock MS][/stock] are the subjects of the newest reports circulating around possible TARP repayments.
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