BUSINESS
11/23/2008 05:12 am ET | Updated May 25, 2011

Treasury To Invest In More Banks

The Treasury Department will announce as soon as today that a group of large regional banks have agreed to accept investments from the government, industry sources said. The new banks would join nine of the largest American banks, including Bank of America and J.P. Morgan Chase, which were forced to accept $125 billion in funding last week.

Separately, the Treasury's plan to buy mortgage-related assets from banks appears to have stalled, industry sources said. Banks say that basic questions about the plan remain unanswered. Applicants to serve as asset managers have received little additional information from the Treasury in about a week, the source said. It is not clear, for example, whether banks that manage assets can also sell assets to the government.

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