US govt get $946M from Puerto Rico's Popular bank

Associated Press |

SAN JUAN, Puerto Rico (AP) — The U.S. Treasury Department says the government has received a total of $946 million in repayment from the Puerto Rican bank Popular Inc. as part of a federal bailout program.



The treasury said Wednesday that Popular was the largest bank that remained in the Capital Purchase Program under the Troubled Asset Relief Program.

Officials say the repayment means the government recovered $1.22 billion of principal and interest stemming from an original investment of $935 million in Popular.

The announcement comes as the Treasury Department tries to recuperate the costs of a $700 billion financial bailout following the 2008 financial crisis.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
ITNRF Intelligent Energy Holdings PLC Beckenham 0.09 0.00 0.00 0

Comments

Emerging Growth

H-Source Holdings Ltd.

H-Source Holdings Inc. is a technology company operating within the healthcare industry through its subsidiary, H-Source, Inc. The Company has developed a transaction platform that provides a private, secure and…

Private Markets

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.