Business

MARKET MOVERS

Zions gets OK to repay bailout funds

istockphoto.com

Zions Bancorp., which is based in Utah, operates approximately 500 community-oriented banks in the western part of the United States.

Advertisement

The Federal Reserve said 15 of the 19 major banks it recently surveyed passed a so-called stress test to see how they would stand up in a financial crisis worse than what happened in 2008. Zions Bancorp. was among the financial institutions that received passing marks. In addition, the Salt Lake City-based lender said the Federal Reserve weighed in on Zions’ plan to repay $1.4 billion to the Troubled Asset Relief Program, and did not object to the plan. Among its plans for repaying the US government bailout money, Zions indicated it plans to issue $600 million in senior debt. Zions operates about 500 full-service banks in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com