Description
American Express won approval from the U.S. Federal Reserve in Nov. 2008 to become a bank holding company in order to qualify for TARP funds.
Eye on the Bailout
American Express
New York, N.Y.
| Committed: | $3,388,890,000 | ||||
| Disbursed: | $3,388,890,000 | Returned: | $3,388,890,000 | Revenue to Gov't: | $414,367,308 |
| Profit: | $414,367,308 | ||||
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American Express returned its bailout funds on Jun 9, 2009
Stress Tested
This company is among the 19 companies that underwent a "stress test." Regulators determined that it does not need to raise additional capital.
See the list of all 19 stress-tested companies here.
Map: Corporate headquarters of American Express.
See all recipients in New York
Events
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$3.4B
Jan 9, 2009 Purchase - Preferred Stock w/ Warrants
Part of the Capital Purchase Program
More info from www.financialstability.gov
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May 7, 2009 Federal releases the results of its stress tests
According to the results of the Federal Reserve's "stress tests," 10 of the 19 largest banks will have to raise a total of $74.6 billion in additional capital to withstand a dire economic scenario. Ultimately, all of the banks raise the money privately, with the exception of GMAC.
More info from www.propublica.org
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$59.3M
May 31, 2009 Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
Part of the Capital Purchase Program
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$3.4B
Jun 9, 2009
The Treasury announces 10 banks have been approved to pay back their TARP funds. AmEx announces it is among them.
Part of the Capital Purchase Program
More info from home3.americanexpress.com
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$15.1M
Jun 17, 2009 Dividend Paid
Part of the Capital Purchase Program
More info from www.financialstability.gov
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$340M
Jul 29, 2009 Warrant Proceeds
Part of the Capital Purchase Program
More info from www.financialstability.gov
| Date | Type | Amount | Program | Description |
|---|---|---|---|---|
| 07/29/2009 | Warrant | $340,000,000 | CPP | Warrant Proceeds |
| 06/17/2009 | Dividend | $15,061,733 | CPP | Dividend Paid |
| 06/09/2009 | Refund | $3,388,890,000 | CPP | |
| 05/31/2009 | Dividend | $59,305,575 | CPP | Dividends Paid Through 5/31/2009 |
| 01/09/2009 | Purchase | $3,388,890,000 | CPP | Purchase - Preferred Stock w/ Warrants |
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