Banks to Begin Repaying TARP
10 banks should be approved to begin repaying TARP
Last month, some banks began indicating that they would like to begin repaying TARP funds used to help shore up their finances. The government was a bit ambivalent at the time, deciding to consider the merits of TARP repayment.?
Today, though, the U.S. Treasury is expected to announce that it will be allowing 10 banks to repay TARP funds. 10 of these banks were from the 19 that were stress-tested earlier this year. Some of these banks, like Bank of America and Citigroup, are not likely to be approved to begin TARP repayment. But other banks that are showing some improvement, like JP Morgan and U.S. Bancorp, may see better luck and may be able to repay TARP funds.
Banks want to begin repaying TARP, since they are subject to tighter regulation than companies that have not taken TARP funds. The banks hope that they can get back to more “business as usual” with less goverment intervention if they pay back loans made by taxpayers.
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Banks to Begin Repaying TARP
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