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More Than 90 Banks Miss TARP Payments
Posted By admin On June 17, 2010 @ 3:56 am In Money Watch | Comments Disabled
June 17, 2010
More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.
The statistics, compiled by SNL Financial from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the Troubled Asset Relief Program, or TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss.
The number of banks missing their TARP payments rose for the third straight quarter. In February, 74 banks deferred their payments; 55 deferred last November.
SNL Financial’s analysis found 20 banks have missed four or more payments since the program began in 2008, while eight banks have missed five payments.
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URLs in this post:
 Reuters: http://www.cnbc.com/id/37732312
 Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502
 Bailout Overseer Says Banks Misused TARP Funds: http://www.prisonplanet.com/bailout-overseer-says-banks-misused-tarp-funds.html
 Payments system SWIFT to cut off Iranian banks: http://www.prisonplanet.com/payments-system-swift-to-cut-off-iranian-banks.html
 AIG payments to banks stoke bailout rage: http://www.prisonplanet.com/aig-payments-to-banks-stoke-bailout-rage.html
 TARP Inspector General Says Banking System Now Possibly Worse: http://www.prisonplanet.com/tarp-inspector-general-says-banking-system-now-possibly-worse.html
 TARP Warrant Sale Shows Banks May Reap ‘Ruthless Bargain’: http://www.prisonplanet.com/tarp-warrant-sale-shows-banks-may-reap-%e2%80%98ruthless-bargain%e2%80%99.html
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