WASHINGTON — The Treasury Department announced Monday that privately held banks and thrifts are now eligible for direct capital injections from the government.
With the deadline for publicly traded bank and thrift companies to apply for funds having passed on Friday, Treasury is now extending its offer to invest in privately held ones.
Treasury said the new guidelines only apply to banks that are privately held but not structured as mutual thrifts or subchapter S corporations. The agency said it is still determining how it would structure the Capital Purchase Program to include mutuals and S corporations.
Banks and thrifts interested in participating in the program can apply with their regulators.