The Bush Administration said on Monday that it has provided US$33.56 billion to 21 U.S. banks under its US$250 billion purchase plan.
The government has bought US$125 billion stocks in nine major U.S. banks in the first round of payments.
JPMorgan Chase, Citigroup and Wells Forgo, each got US$25 billion in government funds, and Bank of America got US$15 billion.
Meanwhile, Goldman Sachs, Merrill Lynch and Morgan Stanley got US$10 billion each, and Bank of New York Mellon and State Street got US$3 billion and US$2 billion respectively.
Under the take-it-or-leave-it plan, the U.S. government will use a portion of the US$700 billion financial rescue package to inject capital into banks by directly purchasing equity shares.
The government will initially buy stocks in nine major U.S. banks under its US$250 billion purchase plan, another US$125 billion will be going to regional institutions.
(Xinhua News Agency November 27, 2008)
