For Immediate Release
Chicago, IL – March 17, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Citigroup Inc. (C), Fifth Third Bancorp (FITB), Suntrust Banks Inc. (STI), Comerica Inc. (CMA) and Marshall & Ilsley Corp. (MI).
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Here are highlights from Tuesday’s Analyst Blog:
New Loans Fall at TARP Banks
The U.S. Treasury said on Monday that new loans at nine major banks, which received significant government aid through the Troubled Asset Relief Program (TARP) during the height of the financial crisis and have not repaid yet, tumbled in Jan 2010.
In its monthly survey of lending on the TARP banks, the Treasury found that new loan originations at these nine banks fell about 35% from Dec 2009 to $35.9 billion in Jan 2010. The amount was even lower than $41.6 billion of loan originations in October when new loans had fallen last.
According to the Treasury, the drop in loan originations in January could partially be a result of large increases in originations during November and December of 2009.
Some of the nine major banks that are under survey by the Treasury are: Citigroup Inc. (C), Fifth Third Bancorp (FITB), Suntrust Banks Inc. (STI), Comerica Inc. (CMA) and Marshall & Ilsley Corp. (MI).
However, the survey confirms that the average loan balances were up by 2% in January from December.
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