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TARP Bank Programs Near Profitability

Posted on 3/17/2011

Six financial institutions have repurchased a total of $475 million in Capital Purchase Program investments under the Troubled Asset Relief Program, the Treasury Department said yesterday. Those proceeds bring TARP programs that provided financial support to banks to within 1 percent of profitability.

Through repayments, dividends, interest and other income, the government has recovered about $244 billion -- or more than 99 percent -- of the $245 billion in total funds disbursed for TARP investments in banks, Treasury officials said. The agency estimates that bank programs within TARP ultimately will provide a profit of nearly $20 billion to taxpayers. Read more.

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