$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.

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On Thursday there has been a rise in shares of Citigroup following reports of an expected share offering that would raise money.

This money would help the bank repay the U.S. government’s investment under the Troubled Asset Relief Program, or TARP.

While it has been acknowledged by the analysts that current common shareholders would be diluted by planned offering.

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Bank of America Corp. (BAC), who is the largest U.S. lender, has raised $19.3 billion by selling securities at $15 a piece in the biggest sale of stock or preferred shares by a U.S. public company .

This has been recorded as the biggest sale since at least 2000.

The bank, which has planned to repay $45 billion of U.S. rescue funds, has sold 1.286 billion so-called common equivalent securities.

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Around 80 commercial banks, chartered in the St. Louis region, had made up $66 million in profits, by this time last year. This year they have recorded $169 million in losses.

The main cause behind the downfall is bad loans, as the real estate problems spread from residential to commercial real estate. Bad loans, which can also be called nonperforming loans, increased 69% to $1.05 billion in the first six months, from $620 million a year earlier.

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