Citigroup, feds finalize agreement for bailout

Dillard, Gabriel
November 2008
Business Journal Serving Fresno & the Central San Joaquin Valley;11/28/2008, Issue 323950, p17
The article reports on the agreement of Citigroup Inc. and the U.S. Treasury Department to bailout $20 billion for the banking industry in California. Under the deal, the Treasury and Federal Deposit Insurance Corp. (FDIC) will guarantee up to $306 billion loans backed by commercial and residential mortgages. Citigroup will modify the mortgages to avoid foreclosures, and reduce the interest rates.


Related Articles

  • New Powers Mean New Questions For FDIC. Adler, Joe // American Banker;4/7/2009, Vol. 174 Issue 66, p1 

    The article discusses questions regarding the mission of the Federal Deposit Insurance Corp. (FDIC) in view of its growing involvement with the bailout of the U.S. banking and financial industry. The U.S. Treasury Department has tasked the FDIC with administering the bailout of U.S. banks with...

  • Will the $700 Billion Government Bailout Work?  // Financial Executive;Nov2008, Vol. 24 Issue 9, p9 

    The article discusses the U.S. government's $700 billion bailout plan for the financial industry. Under enabling legislation the secretary of the Treasury has wide latitude for how the funds are used. In addition, bank-account limits for Federal Deposit Insurance Corporation insurance were...

  • Enhancements Aid Loan Mods. Collins, Brian // National Mortgage News;10/27/2008, Vol. 33 Issue 6, p1 

    The article reports that the Treasury Department is planning to review a Federal Deposit Insurance Corp.'s (FDIC) proposal that uses credit enhancements as a tool to encourage loan modifications in the U.S. The proposal would provide relief to delinquent homeowners who are at risk of going into...

  • Bair's New Idea: U.S. as Direct Lender. Adler, Joe; Kaper, Stacy // American Banker;5/1/2008, Vol. 173 Issue 84, p1 

    The author reports on a plan which would allow people to borrow money directly from the U.S. Treasury department. The plan was proposed by Sheila Bair, the chairman of the Federal Deposit Insurance Corp. (FDIC). The number of homes which this plan is expected to save from foreclosure on an...

  • Citi I-Bank Spinoff Unlikely. Hamerman, Joshua // Investment Dealers' Digest;12/1/2008, Vol. 74 Issue 46, p8 

    The article reports on the U.S. government's bailout plan for financial services firm Citigroup Inc. It states that Citigroup will get a stock investment of $20 billion from the Troubled Asset Relief Program. It also notes that the company agreed to issue $7 billion in preferred stock to the...

  • What BIF lacks will affect banks' tax.  // ABA Banking Journal;Mar1991, Vol. 83 Issue 3, p14 

    Focuses on the intensification of the debate over the recapitalization of the Bank Insurance Fund in the U.S. Limitation of the options on the plan of the Treasury Department; Importance of the timing of contributions; Treatment of the additional bank payments.

  • Vote May Show If Tiebreaker Has Set FDIC on New Course. Linder, Craig // American Banker;1/13/2004, Vol. 169 Issue 8, p1 

    After Thomas J. Curry was confirmed as the fifth member of the Federal Deposit Insurance Corp. board, observers said his appointment would finally enable it to set policy without Treasury Department assent. The board is slated to consider a proposal to simplify coverage rules for living-trust...

  • FDIC to Give Details On Asset Program. Adler, Joe // American Banker;3/26/2009, Vol. 174 Issue 58, p2 

    The author reports on plans by the Federal Deposit Insurance Corp. (FDIC) to inform banks about a plan it has with the U.S. Treasury Dept. to help banks in eliminating toxic assets. Topics that the FDIC discussed with bankers during a conference call in regards to eliminating toxic assets are...

  • Take Fight to Politically Tied Launderers. Ringel, Jed // American Banker;9/23/2009, Vol. 174 Issue 177, p9 

    In this article the author discusses progress which has been made in the area of financial regulation by several U.S. agencies including the U.S. Treasury Department and the Federal Deposit Insurance Corp., in 2009 in response to corrupt banking practices. The author is supportive of the...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics