Ameriprise Financial Declines Funding from U.S. Treasury Capital Purchase Program
May 15 2009 - 12:10PM
Business Wire
Ameriprise Financial, Inc. (NYSE:AMP) today announced that it
has elected not to accept funding under the U.S. Department of the
Treasury�s Capital Purchase Program (�CPP�). The Company was
advised by telephone yesterday that its application had been
granted preliminary approval.
�While we appreciate Treasury�s approval of our application, we
have elected not to accept funding,� said Jim Cracchiolo, chairman
and chief executive officer. �We have carefully evaluated our
current position and expectations for the future, and we are
confident that our current capital position and access to potential
additional funding sources are more than adequate.
�Our prudent management approach has allowed us to maintain
solid balance sheet fundamentals, including a high quality asset
portfolio, large liquidity pool, more than $1 billion in excess
capital and conservative capital ratios.�
Ameriprise Financial, Inc. is a diversified financial services
company serving the comprehensive financial planning needs of the
mass affluent and affluent. For more information, visit
ameriprise.com.
Ameriprise Financial (NYSE:AMP)
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