News Tuesday, Citigroup (C) said that as part of its problem assets to the U.S. government rescue plan (TARP) under the assistance of the loan funds to support part of the project, the second quarter of 6 billion U.S. dollars approved a new loan scheme. The company said it has approved the use of TARP funds total loans of 50.8 billion U.S. dollars.
Since October last year, Citigroup has received 45 billion U.S. dollars of assistance to TARP funds, part of which has recently been converted into government-held stake of 34%. The company said that the loans have been approved, there are 15.1 billion U.S. dollars (nearly one-third) have been put into use.
Citigroup second quarter of the approval of two up to 6 billion U.S. dollars worth of new loan scheme. According to these two programs, the company will provide up to 4 billion U.S. dollars worth of municipal credit and mortgage loans to provide another 2 billion U.S. dollars of loans. Citigroup said the second quarter to the United States issued a new consumer loans reached 56.2 billion U.S. dollars, in the first quarter increased by 22%.
Aug. 12, 2009
