Law360, New York (May 14, 2012, 12:53 PM ET) -- During 2008 and 2009, the U.S. Treasury Department (Treasury) purchased cumulative preferred stock from more than 700 U.S. bank holding companies (BHCs) as part of the Capital Purchase Program established under its Troubled Asset Relief Program (TARP).
By the end of 2011, Treasury had exited approximately half of these positions and announced that it had reached break-even on its aggregate bank investments.
With all future proceeds now constituting profit, Treasury engaged financial advisers to explore alternatives for refinancing or selling the remaining TARP preferred stock. In...
TARP Auctions: Considerations For PE Fund Managers
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