A pair of cash-strapped issuers announced fresh injections of liquidity last week, as AmeriCredit Corp. set up a $1 billion whole-loan sales facility and The Metris Companies secured a new ABCP conduit facility. For both lenders, each in the midst of reorganizations, the developments were positives that caused both companies stock prices to spike - 75% in the case of Metris.

Metris actually had two significant announcements last Wednesday. In its most recent 8-K filing it first declared that the Office of the Comptroller of the Currency (OCC) had dissolved the regulatory agreement signed last April and this allowed its bank subsidiary, Direct Merchants Bank, to pay the parent a $155 million dividend.

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