This morning in a speech to the Independent Community Bankers of America, Treasury Secretary Geithner said that, using the proceeds of the repayments expected from some of the larger banks that received TARP funds, the Treasury will re-open the Capital Purchase Program application window for banks with total assets under $500 million for six months.
Small banks may apply, or reapply, and the limit is being raised from 3% of risk-weighted assets to 5% of risk-weighted assets. Geithner also indicated that there will be an expedited approval process.
For further information, contact Allyn Dixon at adixon@dickinsonlaw.com or at 246-4520 or Howard Hagen at hhagen@dickinsonlaw.com or at 246-4543.
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