Banking lawyers in Georgia continue to wrestle with the details of the U.S. Treasury Department’s plan to restore capital and liquidity to the country’s banking system. The Capital Purchase Plan, unveiled Oct. 14, will disburse $125 billion, perhaps more, to the nation’s 8,500 banks and thrifts by the end of the year.
It’s still not clear how many banks will benefit, the lawyers said. Which banks are eligible and which will take the government up on its offer of capital in exchange for an equity stake in their business remains to be seen. Meanwhile, the Nov. 14 application deadline looms closer.
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