Troubled Asset Relief Program: Status of Participants' Dividend Payments and Repurchases of Preferred Stock and Warrants

This testimony is based primarily on certain information in our June 17, 2009, report--our fifth report under the act's mandate--which covers TARP activities as of June 12, 2009. Specifically, this statement includes information on (1) terms and rates for dividend payments from participants, (2) the dividend payments received through June 30, 2009, from participants, and (3) repurchases of preferred stock and warrants4 by participants. To do this work, we reviewed documents provided by OFS and conducted interviews with officials from OFS.