Treasury may accelerate TARP bank exits

Treasury may accelerate TARP bank exits

The Treasury Department may offer more stock it holds in bailed out banks as profits from its sales in larger firms cover the losses, Treasury may accelerate TARP bank exits.

 · On Friday it was announced that the Treasury had sold its entire remaining stake in Ally Financial. This marks the exit of Ally Financial from the Troubled Asset Relief Program (TARP), the program the U.S. government started during the financial.

On December 18, 2012, the Treasury provided an update on the wind down of the TARP bank investment programs and also announced the future auction of 53 TARP investments, approximately 25% of the remaining pool of investments.. As previously announced, Treasury is pursuing three basic options to exit the TARP program: (1) waiting for banks to repay; (2) selling investments (typically by auction.

Last month, the Treasury announced it planned to exit its remaining bank investments, and it already has held auctions of some banks’ preferred stock. The Treasury invested $204.9 billion in 707.

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Since December 2008, the Department of the Treasury (Treasury) has committed $62 billion in Troubled Asset Relief Program (TARP) funding to General Motors (GM) and Chrysler. Under GAO’s mandate to oversee TARP, this report addresses (1) how restructuring with federal assistance has affected GM’s and Chrysler’s financial condition, (2) what Treasury has done to ensure that it disinvests in GM.

"TARP’s bank programs succeeded in stabilizing our financial sector and have already earned a significant profit for the taxpayer." Treasury lost about $50 million in its first auction of preferred shares, recouping just $362 million of the $411 million it originally invested in the six banks.

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"We are pleased to announce our exit from the SBLF program," said William C. Marsh, Chairman, President and Chief Executive Officer of the Company and the Bank. "The SBLF program and its predecessor U.

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HousingWire | Treasury may accelerate TARP bank exits. Details Published on Monday, 20 August 2012 17:34 The Treasury Department may offer more stock it holds in bailed out banks as profits from its sales in larger firms cover the losses, according to some analysts.. The Treasury spent $204.9 billion through the Troubled Asset Relief Program to buy preferred stock in 707 firms.

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