US pumps in $33.5 billion into 21 more banks
US government previously had infused $125 bn into nine major commercial banks as part of a $700 bn rescue plan approved by Congress. How the bailout adds up
By Agencies |
WASHINGTON: The US Treasury said Monday it had injected $33.56 billion into 21 additional banks as part of a financial rescue aimed at recapitalizing the financial sector.
The government previously had infused $125 billion into nine major commercial banks as part of a 700-billion-dollar rescue plan approved by Congress.
Officials have pledged to commit $250 billion to bank recapitalization under the plan.
In the latest action, US Bancorp received $6.6 billion in the largest injection, followed by $3.55 billion for Capital One and $3.5 billion for SunTrust.
The government previously had infused $125 billion into nine major commercial banks as part of a 700-billion-dollar rescue plan approved by Congress.
Officials have pledged to commit $250 billion to bank recapitalization under the plan.
In the latest action, US Bancorp received $6.6 billion in the largest injection, followed by $3.55 billion for Capital One and $3.5 billion for SunTrust.
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