On Friday, Treasury released its most recent completed transaction report. Ten holding companies repaid approximately $68.3 billion to Treasury, repurchasing the preferred stock issued to the government under the Capital Purchase Program (CPP). Several of these institutions had announced the repurchase earlier in the week, and include the following institutions and repayment amounts:
- Bank of New York Mellon Corporation, $3 billion;
- The Goldman Sachs Group, Inc., $10 billion;
- JPMorgan Chase & Co., $25 billion;
- Morgan Stanley, $10 billion;
- State Street Corporation, $2 billion;
- Northern Trust Corporation, $1.58 billion;
- BB&T Corp., $3.13 billion;
- Capital One Financial Corporation, $3.56 billion;
- U.S. Bancorp, $6.6 billion; and
- American Express Company, 3.39 billion.
Treasury’s investment under the CPP (net of repayment) is now $129,357,696,000. The report also indicated that two new servicers had received funding in an amount up to $73.5 million under the Home Affordable Modification Program. Total funding under this program, after cap adjustments, is now $17,684,440,000.