Created Tue 14th Oct 3am PDT by 
kruijs![[Power User]](http://www.hubdub.com/images/icon_superuser.gif "This user is a super user")
All questions » Business » Economics » kruijs 
Of how many financial institutes will the US purchase equity stakes?
Settled as 8 or more
Can settle as 8 or more as news was announced today identifying "Sixteen U.S. banks have signed up for the government's offer of a cash injection"
The banks are identified in this article:
http://www.reuters.com/article/marketsNews/idINN2730324320081027?rpc=44
Background:
In a major strategic shift, the Bush administration has decided to pour at least $250 billion directly into major banks and expand federal insurance protection to encourage financial institutions to resume lending to one another.
Under the new approach, which can be implemented under the $700-billion rescue plan approved by Congress this month, the federal government intends to pump capital into nine major banks and financial firms that agreed to participate during meetings with Treasury Secretary Henry M. Paulson on Monday.
Government officials did not name the nine banks that would participate initially, but news reports late Monday included
- Citigroup Inc.
- Wells Fargo & Co.
- JPMorgan Chase & Co.
- Bank of America Corp.
- Goldman Sachs Group Inc.
- Morgan Stanley
Treasury Secretary Henry Paulson basically told the bank CEOs that they had to accept the government stock purchases for the good of the U.S. economy.
Settlement by announcements until suspension of question.
http://ap.google.com/article/ALeqM5g8-DEMtAE9q4i4ySQ0eV_qZefmRQD93Q6CF82
http://www.reuters.com/article/topNews/idUSTRE49C87Z20081013
http://www.latimes.com/news/nationworld/nation/la-fi-econ14-2008oct14,0,1409704.story
Under the new approach, which can be implemented under the $700-billion rescue plan approved by Congress this month, the federal government intends to pump capital into nine major banks and financial firms that agreed to participate during meetings with Treasury Secretary Henry M. Paulson on Monday.
Government officials did not name the nine banks that would participate initially, but news reports late Monday included
- Citigroup Inc.
- Wells Fargo & Co.
- JPMorgan Chase & Co.
- Bank of America Corp.
- Goldman Sachs Group Inc.
- Morgan Stanley
Treasury Secretary Henry Paulson basically told the bank CEOs that they had to accept the government stock purchases for the good of the U.S. economy.
Settlement by announcements until suspension of question.
http://ap.google.com/article/ALeqM5g8-DEMtAE9q4i4ySQ0eV_qZefmRQD93Q6CF82
http://www.reuters.com/article/topNews/idUSTRE49C87Z20081013
http://www.latimes.com/news/nationworld/nation/la-fi-econ14-2008oct14,0,1409704.story
Settlement details:
As reported by a major mainstream news source.
Settled
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5 or less |
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6 or 7 |
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8 or more |
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Activity: H$32,077
Settled as 8 or more on Mon 27th Oct 4pm PDT
Suspend date: last Sunday 11:59pm PST Settlement date: Mon 27th Oct 4pm PDT
Initial likelihoods: 5 or less: 10%, 6 or 7: 30%, 8 or more: 60%
Action history:
Created Tue 14th Oct 3am PDT by kruijs
kruijs
Settlement requested Sat 25th Oct 1:34pm PDT by 
thisson: "The Treasury Department was first prepared to release a list of nearly two dozen banks who will receive funds from its $250 billion authorization to inject capital into the financial sector as early as 11 a.m. on Friday."
http://www.thestreet.com/_yahoo/newsanalysis/on-the-brink/10444235.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
thisson: "The Treasury Department was first prepared to release a list of nearly two dozen banks who will receive funds from its $250 billion authorization to inject capital into the financial sector as early as 11 a.m. on Friday."
http://www.thestreet.com/_yahoo/newsanalysis/on-the-brink/10444235.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Suspended Sun 26th Oct 5:18am PDT by 
bayoubear![[Admin]](http://www.hubdub.com/images/icon_admin.gif "This user is an admin")
: Recent announcements tend to indicate that the number will be well in excess of the top range option, so until reports are confirmed, question will be suspended...may be reopened before settlement if reports are not confirmable....
bayoubear: Recent announcements tend to indicate that the number will be well in excess of the top range option, so until reports are confirmed, question will be suspended...may be reopened before settlement if reports are not confirmable....
Settlement requested Mon 27th Oct 7:41am PDT by thisson: http://www.reuters.com/article/marketsNews/idINN2730324320081027?rpc=44
" A list of the additional 15 banks that have announced they
will use the government funds follows: PNC Financial Services Group Inc (PNC.N: Quote, Profile, Research, Stock Buzz) $7.7 billion Capital One Financial Corp (COF.N: Quote, Profile, Research, Stock Buzz) $3.55 billion Regions Financial Corp (RF.N: Quote, Profile, Research, Stock Buzz) $3.5 billion SunTrust Banks Inc (STI.N: Quote, Profile, Research, Stock Buzz) $3.5 billion KeyCorp (KEY.N: Quote, Profile, Research, Stock Buzz) $2.5 billion Comerica (CMA.N: Quote, Profile, Research, Stock Buzz) $2.25 billion State Street Corp (STT.N: Quote, Profile, Research, Stock Buzz) $2.0 billion Northern Trust Corp (NTRS.O: Quote, Profile, Research, Stock Buzz) $1.5 billion Huntington Bancshares (HBAN.O: Quote, Profile, Research, Stock Buzz) $1.4 billion First Horizon National Corp (FHN.N: Quote, Profile, Research, Stock Buzz) $866 million City National Corp (CYN.N: Quote, Profile, Research, Stock Buzz) $395 million Valley National Bancorp (VLY.N: Quote, Profile, Research, Stock Buzz) $330 million UCBH Holdings Inc (UCBH.O: Quote, Profile, Research, Stock Buzz) $298 million Washington Federal (WFSL.O: Quote, Profile, Research, Stock Buzz) $200 million First Niagara Financial Group (FNFG.O: Quote, Profile, Research, Stock Buzz) $186 million"
thisson: http://www.reuters.com/article/marketsNews/idINN2730324320081027?rpc=44
" A list of the additional 15 banks that have announced they
will use the government funds follows: PNC Financial Services Group Inc (PNC.N: Quote, Profile, Research, Stock Buzz) $7.7 billion Capital One Financial Corp (COF.N: Quote, Profile, Research, Stock Buzz) $3.55 billion Regions Financial Corp (RF.N: Quote, Profile, Research, Stock Buzz) $3.5 billion SunTrust Banks Inc (STI.N: Quote, Profile, Research, Stock Buzz) $3.5 billion KeyCorp (KEY.N: Quote, Profile, Research, Stock Buzz) $2.5 billion Comerica (CMA.N: Quote, Profile, Research, Stock Buzz) $2.25 billion State Street Corp (STT.N: Quote, Profile, Research, Stock Buzz) $2.0 billion Northern Trust Corp (NTRS.O: Quote, Profile, Research, Stock Buzz) $1.5 billion Huntington Bancshares (HBAN.O: Quote, Profile, Research, Stock Buzz) $1.4 billion First Horizon National Corp (FHN.N: Quote, Profile, Research, Stock Buzz) $866 million City National Corp (CYN.N: Quote, Profile, Research, Stock Buzz) $395 million Valley National Bancorp (VLY.N: Quote, Profile, Research, Stock Buzz) $330 million UCBH Holdings Inc (UCBH.O: Quote, Profile, Research, Stock Buzz) $298 million Washington Federal (WFSL.O: Quote, Profile, Research, Stock Buzz) $200 million First Niagara Financial Group (FNFG.O: Quote, Profile, Research, Stock Buzz) $186 million"
Settled as '8 or more' Mon 27th Oct 4pm PDT by bayoubear: Can settle as 8 or more as news was announced today identifying "Sixteen U.S. banks have signed up for the government's offer of a cash injection"
The banks are identified in this article:
http://www.reuters.com/article/marketsNews/idINN2730324320081027?rpc=44
bayoubear: Can settle as 8 or more as news was announced today identifying "Sixteen U.S. banks have signed up for the government's offer of a cash injection"
The banks are identified in this article:
http://www.reuters.com/article/marketsNews/idINN2730324320081027?rpc=44
Suspend date: last Sunday 11:59pm PST Settlement date: Mon 27th Oct 4pm PDT
more info...
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"Sixteen U.S. banks sign up for government funds"
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