All Posts Tagged With: "Troubled Asset Relief Program"

PNC Financial (NYSE: PNC) Reaches Agreement To Repay TARP Funds

February 3rd, 2010 • View Comments • Filed Under • by mitch
Just hours after announcing a sale of its global investment unit to the Bank of NY Mellon (NYSE: BK), PNC Financial (NYSE: PNC) said it reached an agreement with regulators to purchase the $7.6 billion in preferred shares given to the government in exchange for TARP funds. PNC plans to use funds from an equity [...]

GMAC May Receive An Additional $3.5 Billion In TARP Funds

December 30th, 2009 • View Comments • Filed Under • by mitch
GMAC Financial Services is likely to receive an additional $3.5 billion in financial aid from the U.S. government, according to recent reports.  The official announcement could be made in the coming days and would add to a taxpayers’ outlay that has already hit $12.5 billion. The move would be in correspondence with GMAC making moves [...]

Federal Reserve Spending Another $556 billion in Mortgage Market

September 25th, 2009 • View Comments • Filed Under • by Gary
Although the acquisition of mortgage-backed securities was scheduled to end in December 2009, the Federal Reserve has decided to continue acquiring the securities, with plans to pump another $556 billion into them by April 2010. Since January 2009 the Federal Reserve has already spend $694 billion of taxpayers dollars on them, bringing the end total [...]