Treasury Details Citi-Type Aid Program

Treasury on Friday said it would consider on a case-by-case basis aid similar to the package it extended to prop up flagging Citigroup (C Quote) as investors' fears mounted and its stock price plummeted in November.

Treasury said its Targeted Investment Program, created in the $700 billion financial bailout plan created by Congress in October, would consider a variety of information from institutions' regulators and other sources before determining whether to provide aid. Citigroup on Nov. 23 was offered $20 billion from the Troubled Assets Relief Program, in addition to the government's agreement to backstop up to $306 billion of losses in various assets, as the bank's stock took a beating in an accelerating panic.

"In an environment of high volatility and severe financial market strains, the loss of confidence in a financial institution could result in significant market disruptions that threaten the financial strength of similarly situated financial institutions and thus impair broader financial markets and pose a threat to the overall economy," Treasury said in a statement Friday. ...