The Treasury Department now is confirming that it will open the Troubled Asset Relief Program to insurers that have federally regulated subsidiaries.
The insurers that will qualify are those that own thrifts or bank holding companies that have applied for aid through the Treasury Department’s Capital Purchase Program, a department spokesman said today.
“There’s no reason to disqualify them, because they meet the criteria,” a source familiar with the situation said Tuesday.
The source did not say when the application approvals might be disclosed, and the Treasury Department statement released today did not give that information.
Several sources say they believe that about a dozen insurers have applied for aid.