The federal government’s $700 billion Troubled Asset Relief Program (TARP) has recovered all but about $11 billion in the funds it distributed to US financial institutions in 2008 and 2009. Last week Regions Financial Corp. (NYSE: RF) and Zions Bancorp. (NASDAQ: ZION) demonstrated their ability to repay $3.5 billion and $1.4 billion, respectively, that they received under TARP.
That leaves about 360 institutions still owing that $11 billion to the federal government. Unfortunately, 143 of those institutions are unable to make their February TARP dividend payment. The worse news, for these banks, is that the dividend rate is set to rise from 5% to 9% beginning next January.
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
The federal government’s $700 billion Troubled Asset Relief Program (TARP) has recovered all but about $11 billion in the funds it distributed to US financial institutions in 2008 and 2009. Last week Regions Financial Corp. (NYSE: RF) and Zions Bancorp. (NASDAQ: ZION) demonstrated their ability to repay $3.5 billion and $1.4 billion, respectively, that they received under TARP.