Several US financial firms will get capital -sources
Tue, Oct 14, 2008
AsiaOne
The U.S. Treasury will give several leading financial companies a $25 billion injection of capital to help those companies expand lending and restore the credit markets to health, two sources familiar with the plan said on Monday.
The Treasury will buy a $25 billion stake in Bank of America, Wells Fargo, Citi, JPMorgan, Goldman Sachs, Morgan Stanley, Bank of New York, said the sources familiar with the plan.
The participating banks, excluding Bank of America, must also raise $10 billion each in the private capital markets, the sources said.
Reporting by Karey Wutkowski and Patrick Rucker; Editing by Gary Hill.