Aegon bids for TARP cash

News

Fresh from accessing EUR3 billion of capital from the Dutch government, Aegon has confirmed it has applied for $1 billion of assistance from the US governments Troubled Asset Relief Program (TARP).

To qualify for help from TARP, entities must be regulated at federal, rather than state, level, which is the norm for insurance. Aegon has confirmed it is willing to puchase thrift savings banks - small-scale US banks which usually focus on mortgage lending and have been federally regulated since the