US Treasury Report Confirms $68 Billion In TARP Repayment By 10 Banks
June 19 2009 - 5:00PM
Dow Jones News
The U.S. Treasury Department confirmed in a report Friday that
10 big banks are repaying $68 billion in federal government
aid.
The firms are JPMorgan Chase & Co. (JPM), Goldman Sachs
Group Inc. (GS), Morgan Stanley (MS), BB&T (BBT), U.S. Bancorp
(USB), American Express Co. (AXP), Capital One Financial Corp.
(COF), Bank of New York Mellon Corp. (BK), Northern Trust Corp.
(NTRS) and State Street Corp. (STT).
The report follows a Treasury Dept. announcement last week that
big lenders had met the necessary requirements to repay funds they
received from the government's financial-rescue fund.
The roughly $68 billion was repaid June 17.
The Troubled Asset Relief Program was started in October to
rescue Wall Street. Nearly $200 billion has been doled out to banks
around the U.S.
-By Jeff Bater, Dow Jones Newswires; 202-862-9249;
jeff.bater@dowjones.com