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Which Banks Have and Haven't Applied for the $700 Billion Bailout Funds


The New York Times is tracking the recipients of the $700 bailout funds (also known as TARP funds). Most of the major banks are listed. These include Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, PNC, US Bankcorp, Capital One, Regions, SunTrust, Fifth Third, E*Trade, M&T Bank and BB&T. Some major banks that I've reported on that are NOT listed as of 12/15/08 include:
  • ING Bank ($81.6 billion in assets)
  • HSBC Bank USA ($181.6 billion in assets)
  • Emigrant Bank ($10.7 billion in assets)
  • EverBank ($6.5 billion in assets)
  • Flagstar Bank ($14.1 billion in assets)
  • Corus Bank ($8.4 billion in assets)
Not being on the bailout list doesn't seem to indicate anything about the bank's financial strength. For example, EverBank has a 4-star rating (sound) at Bankrate and Flagstar has a 1-star rating (lowest) at Bankrate.

Thanks to the reader who emailed me this article.

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Anonymous   |     |   Comment #1
ING got their bailout already in October: $13.4b from the Dutch government.
Banking Guy
Banking Guy   |     |   Comment #2
Yes, I had forgotten about that Dutch bailout. I did a post on this in October. I don't see any US Banks with foreign parent banks getting any bailout funds.