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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

Reuters [1]
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.

Full article here [1]

More Than 90 Banks Miss TARP Payments 150410banner7 [2]


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URLs in this post:

[1] Reuters: http://www.cnbc.com/id/37732312

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Bailout Overseer Says Banks Misused TARP Funds: http://www.prisonplanet.com/bailout-overseer-says-banks-misused-tarp-funds.html

[4] Payments system SWIFT to cut off Iranian banks: http://www.prisonplanet.com/payments-system-swift-to-cut-off-iranian-banks.html

[5] AIG payments to banks stoke bailout rage: http://www.prisonplanet.com/aig-payments-to-banks-stoke-bailout-rage.html

[6] TARP Inspector General Says Banking System Now Possibly Worse: http://www.prisonplanet.com/tarp-inspector-general-says-banking-system-now-possibly-worse.html

[7] 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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