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Tag Archives: TARP

Treasury prepares for Citigroup stock sale

WASHINGTON — The Treasury Department said today that its first sales of Citigroup stock will cover up to 1.5 billion shares. That would amount to about 20 percent of the 7.7 billion shares of Citigroup common stock that the government owns. It received the shares as compensation for the massive support it extended to the bank during the height of ...

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PNC pays back $7.6B for TARP

WASHINGTON — The U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in PNC Bank in the sum of $7.6 billion, bringing the total amount of repaid TARP funds to more than $173 billion. Treasury now estimates that total bank repayments and proceeds from sales of its common stock in banks should exceed ...

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ECD/Hope to accept TARP funds

JACKSON — On Feb. 4, Treasury Secretary Tim Geithner outlined the details of a new program under the Troubled Assets Relief Program (TARP) that will provide community development financial institutions (CDFIs) with up to $1 billion to make more loans to small businesses in some of the communities hit hardest by the economic crisis. ECD/HOPE (Enterprise Corporation of the Delta/Hope ...

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Trustmark repurchases shares from Treasury

JACKSON — Trustmark Corporation has completed the repurchase of its 215,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, from the U. S. Treasury Department at a purchase price of $215 million plus a final accrued dividend of $716.7 thousand. The preferred stock and a warrant to purchase 1,647,931 shares of common stock were issued to the Treasury ...

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Is GreenTech the real deal?

Tuesday in Tunica, a Chinese businessman made the biggest economic development announcement in Mississippi in almost three years, and Gov. Haley Barbour was nowhere in sight. Xiaolin “Charles” Wang said his automotive manufacturing facility would produce 150,000 hybrid vehicles annually and employ 1,500 people directly, and the Mississippi Development Authority’s executive director was out of the country with Barbour. If ...

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