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Controls Over the FDIC’s Processing of Capital Purchase Program Applications from FDIC-Supervised Institutions

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FDIC OIG: March 2009, Report No. EVAL-09-004, Controls Over the FDIC’s Processing of Capital Purchase Program Applications from FDIC-Supervised Institutions

  • “As of January 15, 2009, the FDIC had received 1,615 applications from FDIC-supervised institutions requesting almost $34 billion in TARP funding. The FDIC had recommended 408 applications to Treasury for approval, of which 267 had received awards. FDIC officials estimated that the Corporation will complete its review of the remaining applications during the second quarter of 2009. There are approximately 1,660 additional Subchapter S Corporation and mutual ownership institutions eligible to apply to the CPP. Treasury issued a term sheet for Subchapter S Corporation participation in mid-January 2009.”
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