Gov't supplies $3.84B to 35 banks

December 9, 2008 1:57:36 PM PST
The government says it has supplied $3.84 billion to 35 banks in a third round of payments from the $700 billion financial system rescue program. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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The Treasury Department says it authorized the payments on Friday, bringing the total supplied to banks to $165.3 billion.

That leaves less than $85 billion to be spent out of the $250 billion that has been earmarked to make direct purchases of stock in banks as a way of bolstering their balance sheets and encouraging them to resume more normal lending.

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