TITLE

Banks Are Sold on Warrant Auctions

AUTHOR(S)
Monks, Matthew; Hopkins, Cheyenne
PUB. DATE
February 2010
SOURCE
American Banker;2/19/2010, Vol. 175 Issue F307, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Treasury Department's auctioning of stock warrants that it took in Bank of America Corporation, Washington Federal Incorporated, Texas Capital Bancshares, and Signature Bank as part of the Troubled Asset Relief Program (TARP). According to the article, the Treasury took warrants in more than 250 companies that received federal aid under the TARP. The warrants give the stock holder the right to buy common shares of the company at a fixed price for up to 10 years.
ACCESSION #
48157878

 

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