As head of JPMorgan Chase, Dimon oversaw the transfer of $25 billion in funds from the U.S. Treasury Department to the bank on October 28, 2008, under the Troubled Asset Relief Program (TARP). This was the fifth largest amount transferred under Section A of TARP to help troubled assets related to residential mortgages. It has been widely reported that JPMorgan Chase was in much better financial shape than other banks and did not need TARP funds but accepted the funds because the government did not want to single out only the banks with capital issues. JPMorgan Chase advertised in February 2009 that it would be using its capital-base monetary strength to acquire new businesses.