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Treasury and Bank of American near bailout deal

  In this Sept. 15, 2008 file photo, traffic passes a branch of the Bank of America in New York. The U.S. government is close to finalizing a deal tha...
 Graphic shows companies that have received the most aid from the Treasury Department's bailout fund; 1 c x 4 1/8 in; 46.5 mm x 104.775 mm

Bank of America Aid

In this Sept. 15, 2008 file photo, traffic passes a branch of the Bank of America in New York. The U.S. government is close to finalizing a deal tha...

BANK OF AMERICA

Graphic shows companies that have received the most aid from the Treasury Department's bailout fund; 1 c x 4 1/8 in; 46.5 mm x 104.775 mm

A person close to the discussions says that Bank of America and the Treasury Department are near an agreement that will provide $15 billion to $20 billion in new government support to the banking giant.
This source, who spoke on condition of anonymity, said that the injection of fresh capital will come from the government's $700 billion rescue fund and will be similar to assistance provided last November to Citigroup.
The source spoke on condition of anonymity because the agreement had not been completely finalized. An announcement was expected later Thursday.


Updated : 2021-08-06 06:26 GMT+08:00