US Treasury Received $936M for JPMorgan Warrants
Published on: Fri, Dec 11, 2009
Classified as: Personal Finance
$936.1 million has been received by the Treasury Department in the sale of warrants it had received from JPMorgan Chase & Co. as part of the support that has been provided by the bank during last year’s financial crisis.
Treasury sold 88.4 million warrants at a price of $10.75
On Friday the Treasury said that it sold more than 88.4 million warrants at a price of $10.75 each in an auction that took place on Thursday.
Second Auction of Warrants
It was the second auction of warrants from financial institutions to whom support had been given from the government’s $700 billion financial bailout fund.
Last week Treasury received $146.5 million in a sale of warrants
Other than New York-based JPMorgan, last week $146.5 million were received by the government in a sale of warrants it had received from McLean, Va.-based Capital One Financial Corp.
Government Announced 3rd Auction
It has also been announced by the government that it will hold a third auction later this month for warrants that it holds from Wayzata, Minn.-based TCF Financial Corp.
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