FACTBOX: Banks announce cash infusions

Mon Oct 27, 2008 6:59pm EDT
 
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(Reuters) - Sixteen 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 a $250 billion bank recapitalization program.

Nine of the largest U.S. banks, including JPMorgan Chase & Co and Citigroup, received the first $125 billion of capital infusions two weeks ago.

A list of the additional 16 banks that have announced they will use the government funds follows:

PNC Financial Services Group Inc $7.7 billion

Capital One Financial Corp $3.55 billion

Regions Financial Corp $3.5 billion

SunTrust Banks Inc $3.5 billion

BB&T Corp $3.1 billion

KeyCorp $2.5 billion

Comerica $2.25 billion

State Street Corp $2.0 billion

Northern Trust Corp $1.5 billion

Huntington Bancshares $1.4 billion

First Horizon National Corp $866 million

City National Corp $395 million  Continued...

 

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