Rochester,NY 7/15/2009 12:07:50 AM
News / Finance

STT - UPDATE 1-State Street Paid $60 million To buys back warrants according to US Treasury

STATE STREET CP

STATE STREET CP, STT

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The U.S. Treasury said on Friday that State Street Corp. paid $60 million to buy back stock warrants, becoming the first of the largest U.S. banks to completely free itself from the government's financial bailout program. In the latest transaction report from its Troubled Asset Relief Program (TARP), the Treasury also said it reduced auto supplier support programs for General Motors and Chrysler Group LLC by $1.5 billion, as the two automakers emerged from bankruptcy.

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