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Article: Principal Financial Group Receives Preliminary Approval for U.S. Treasury Capital Purchase Program.
- Article from:
- Investment Weekly News
- Article date:
- June 6, 2009
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The Principal Financial Group® (NYSE: PFG) announced it was formally notified of preliminary approval of its application to participate in the U.S. Treasury Department's Capital Purchase Program (CPP). The application was for $2 billion.
"Since our CPP application last November, The Principal has taken a number of important steps to manage its businesses as well as its liquidity and capital position during this challenging economic environment," said Larry Zimpleman, president and chief executive officer, the Principal Financial Group. "We took another important step this week to significantly strengthen our capital base with our approximately $1 billion ...