Central Banking

GM finance arm gets TARP funding

The finance arm of General Motors, the embattled US automaker, has received financial support under the US Treasury's Troubled Assets Relief Programme (TARP) after gaining approval from the Federal Reserve to become a bank holding company.

The US Treasury announced on Monday that it will make up to $6 billion in aid available to GMAC, which provides loans to General Motors and its dealer network and is jointly owned by General Motors and Ceberus Capital Management, a large US private equity firm

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.