US Treasury Provides GM $2 Billion; Announces TARP Repayments
24 Abril 2009 - 2:24PM
Dow Jones News
The U.S. Treasury Department has provided General Motors Corp.
(GM) $2 billion in working capital and several more banks have
repaid hundreds of millions of dollars in government aid, according
to a new transaction report Treasury released Friday.
A Treasury official confirmed that the federal government is
considering giving GM $5 billion and Chrysler LLC $500 million in
short-term aid. Friday's Treasury report shows that Treasury has
already provided GM $2 billion of that aid.
Meanwhile, Treasury announced that four additional banks have
returned a total of $569.2 million in TARP funds to the Treasury
Department. The banks include TCF Financial Corp. (TCB), FirstMerit
Corp. (FMER), Independent Bank Corp. (INDB), and First ULB Corp.
First ULB paid back their warrants. The other three banks refunded
their investments.
-By Maya Jackson Randall, Dow Jones Newswires; 202-862-9255,
maya.jackson-randall@dowjones.com