Last week Treasury updated its completed transaction report showing almost $430 million in new investments were finalized under the Capital Purchase Program (CPP) for 29 banks located in 17 states. At the same time, Treasury released its first monthly bank lending survey for the top 20 recipients of government investments under the CPP. The survey and summary provide information regarding the lending activities of these 20 institutions from the CPP’s inception in October through the end of the year. “Despite the negative effects of the economic downturn and unprecedented financial markets crisis,” the survey found that the banks “continued to originate, refinance and renew loans from the beginning of the program in October through December 2008.”