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11 bailed-out banks had $2.7T in loans in December

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[February 17, 2010]  WASHINGTON (AP) -- The value of loans held by 11 big beneficiaries of the government's financial bailout was about $2.7 trillion in December, the Treasury Department reported Tuesday.

The department's monthly report monitors the top recipients of aid from the $700 billion rescue fund. The report for December included 11 banks and financial institutions, so that it wasn't comparable to that for November, which tallied the 22 biggest recipients.

The 10 institutions that have repaid their bailout aid are no longer required to submit data to the government. CIT Group Inc., a big lender to small and mid-sized businesses that went through bankruptcy reorganization last year, also didn't file December data.

The November report showed a $7.1 billion decline, to around $4.1 trillion, in the 22 institutions' average loan balances from the previous month. That followed a drop of $36.8 billion in October.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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