• Font Size    
E-mail

Close Window E-mail This Page

Treasury Provides Support For Another 92 Banks

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +   
Dec 23, 2008 4:30 pm US/Eastern

Treasury Provides Support For Another 92 Banks

WASHINGTON (AP) ― The Treasury Department says it has provided an additional $4.7 billion to 92 banks as part of the government's $700 billion rescue of the financial system.

The department released a list of 49 banks that got final approval last Friday to receive $2.8 billion. It said an additional 43 banks received final approval Tuesday, but those names will not be released until Monday.

The money is being disbursed as part of the government's effort to buy stock in banks, to bolster their balance sheets and spur them to step up lending to fight the worst financial crisis to hit the country in seven decades.

But critics contend that many banks are not using the government funds for the purpose Congress intended.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

WBZ's Most Popular

You need the latest Flash player to view video content.
Click here to download.

Click here to bypass this detection if you already have the latest Flash Player.

National And World News

Top News Stories

© MMIX, CBS Corporation. All rights reserved.