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FACTBOX: U.S. banks announce cash infusions

Fri Oct 24, 2008 9:55pm EDT

(Reuters) - A string of U.S. banks have signed up for the government's offer of a cash injection in a bid to revive the sector, which has suffered since lending dried up and many of the loans banks made have gone bad.

Crisis in Credit  |  Economy

The U.S. Treasury Department plans to provide funds for 20 to 22 additional lenders as part of its next round of a $250 billion bank recapitalization program.

Banks that have announced they will use the government's funds:

PNC Financial Services Group Inc $7.7 billion

Regions Financial Corp $3.5 billion

First Horizon National Corp $866 million

Valley National Bancorp $330 million

Note: Wall Street Journal reported Capital One Financial Corp and SunTrust Banks Inc are also taking part in the plan.

(Reporting by Elinor Comlay; Editing by Gary Hill)



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