RSS Feed by Calculated Risk on 6/08/2009 10:22:00 PM
Monday, June 08, 2009
TARP Repayment Announcement on Tuesday
From Bloomberg: U.S. Treasury Said to Plan Approving 10 Banks to Repay TARP
The Treasury is preparing to announce tomorrow it will let 10 banks buy back government shares, people familiar with the matter said, signaling confidence some of the largest U.S. lenders won’t again need a taxpayer rescue.Here is your handy table ...according to the Bloomberg article 10 of these stress tested banks will be approved to repay the TARP money (MetLife didn't take TARP money). I've noted the banks mentioned in various articles ... let the guessing games begin!
JPMorgan Chase & Co. is among those cleared to repay Troubled Asset Relief Program funds ... Goldman Sachs Group Inc., American Express Co. and State Street Corp. are also among those that have sold shares and debt unguaranteed by the government ...
| Name | TARP Amount | Comment |
|---|---|---|
| Bank of America | $52.5 billion | No way! |
| Citigroup | $50 billion | No way! |
| JPMorgan Chase | $25 billion | Mentioned |
| Wells Fargo | $25 billion | Unlikely |
| GMAC | $12.5 billion | No way! |
| Goldman Sachs | $10 billion | Mentioned |
| Morgan Stanley | $10 billion | Mentioned |
| PNC Financial Services | $7.6 billion | - |
| U.S. Bancorp | $6.6 billion | Mentioned |
| SunTrust | $4.9 billion | - |
| Capital One Financial Corp. | $3.6 billion | - |
| Regions Financial Corp. | $3.5 billion | - |
| Fifth Third Bancorp | $3.4 billion | - |
| American Express | $3.4 billion | Mentioned |
| BB&T | $3.1 billion | Mentioned |
| Bank of New York Mellon | $3 billion | Mentioned |
| KeyCorp | $2.5 billion | - |
| State Street | $2 billion | Mentioned |
| MetLife | None | - |
