Treasury provides $15B from bailout pot to 7 banks
WASHINGTON (AP) --The government says it has supplied another $15 billion to seven banks in the latest round of payments from the $700 billion rescue fund.
The Treasury Department says the biggest payment in the new round totaled $7.58 billion to Pittsburgh-based PNC Financial Services Group Inc.
The latest payments bring the amount the government has committed to buying bank stock as a way of bolstering the financial system to $187.5 billion. Treasury says it has provided support to financial institutions in 41 states and Puerto Rico.
Notice about comments:
AikenStandard.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. AikenStandard.com does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not AikenStandard.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website.
Full terms and conditions can be read here.
0