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The U.S. Treasury Department said Monday it had transferred $33.56 billion to 21 banks as part of a capital infusion program intended to help steady the shaky financial system, bringing the total injected into banks since the program began to $148.6 billion.
In return for the capital infusions, the Treasury is receiving preferred equity with warrants for common shares as part of a $700 billion financial rescue plan, under which it has set aside $250 billion for bank capital injections.
U.S. Bancorp [USB
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] received $6.6 billion in the latest round of cash infusions, the largest amount for any of the 21 banks injections announced by the Treasury Monday.
Many of the 21 banks had already said they were going to participate in the program.
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