FACTBOX: Banks announce cash infusions

Tue Oct 28, 2008 12:42pm EDT
 
[-] Text [+]

(Reuters) - Twenty U.S. banks have signed up for the

government's offer of a cash injection, in addition to the nine

that joined the program initially. The injections are a bid to

revive the sector, which has suffered since lending has dried

up and many loans have gone bad.

The U.S. Treasury Department plans to provide funds for 20

to 22 lenders in the current round of the $250 billion bank

recapitalization program.

Nine of the largest U.S. banks said they will receive the

first $125 billion of capital infusions two weeks ago:

Bank of America/Merrill Lynch $25 billion

Citigroup $25 billion

JPMorgan Chase & Co $25 billion

Wells Fargo & Co $25 billion

Morgan Stanley $10 billion

Goldman Sachs Group $10 billion  Continued...