Treasury Funds 'Going Out The Door' To First 9 Banks

Law360, New York (October 27, 2008, 12:00 AM EDT) -- Nine major banks participating in the U.S. government's equity purchase program are set to get their capital infusion from the Treasury Department this week, a department official said Monday.

The $125 billion will “go out the door” to the nine major banks this week, under the department's capital purchase program, Treasury Assistant Secretary for Financial Institutions David Nason said on CNBC television Monday morning.

“We executed the agreements for the nine institutions late last night,” Nason said on CNBC.

The scheduled release of funds is the...
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