The following Associated Press story appeared on page 2C of the January 9, 2009 issue of the St. Paul Pioneer Press.
The Treasury Department announced Thursday that it has disbursed $266.9 billion from the $700 billion financial rescue program.
In its latest update to Congress, the department said it closed $65.4 billion in transactions since its last report on Dec. 2. Under the law that Congress passed Oct. 3, Treasury must provide a report summing up its activities once its commitments pass certain milestones. The new report included $187.5 billion provided to banks in an effort to get them to resume more normal lending and $19.4 billion for the auto industry.