by Calculated Risk on 5/20/2009 11:46:00 PM

From the Financial Times: BofA seeks to repay $45bn by end of year

Bank of America wants to pay back $45bn in bail-out funds by the end of the year, in a faster-than-expected move made possible by an accelerated programme to raise capital.

BofA is on track to raise more than $35bn in capital by the end of September...

People familiar with the bank’s plans say negotiations to sell some of BofA’s non-core assets are under way and, if the asset sales occur in the next few months, the bank will be able to fulfil its stress-test obligations and pay back Tarp funds from its $173bn cash reserves.

Stop laughing!

Plenty of info today:

New Mortgage Loan Reset / Recast Chart

Architecture Billings Index Steady in April

U.S. Vehicle Miles off 1.2% YoY in March

Pension Benefit Guaranty Corporation Deficit Increases - and more problems coming from the automakers.

Residential Rental Market and Inflation

best to all.