US Gov injects $9.5 bln into 3 regional banks

According to CNN Money, KeyCorp, Fifth Third and Capital One - have announced their participation in the federal government's $700 billion Wall Street bailout, adding a total of $9.5 billion in capital.

KeyCorp (KEY, Fortune 500), based in Cleveland, said Monday it has been approved "to bolster its capital position" with $2.5 billion from the Treasury's Capital Purchase Program.

Fifth Third Bancorp (FITB, Fortune 500), based in Cincinnati, said late Sunday that it applied for $3.4 billion from the program, and that it expects "our application will be approved shortly by Treasury."

Capital One Financial Corp. (COF, Fortune 500) said Monday it received approval from the Treasury to sell $3.55 billion in stock to the government.


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Sources :

CNN Money: Three regional banks get $9.5B from Treasury, October 27, 2008 7:02 AM ET

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