Treasury lets 10 banks repay $68 billion - San Antonio Business Journal:

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The department said the institutions, which were not named, have met the requirementx for repayment established by federalkbanking supervisors. It noted that many bankd recently have raised equity capital from private investorsx and haveissued long-terk debt that is not guaranteed by the government. “Thesse repayments are an encouraging sign offinancia repair, but we still have work to do,” Treasur y Secretary Tim Geithner said. More than 600 banka received a total ofnearlyy $200 billion through the department’w Capital Purchase Program.
About $2 billionm of this money was paid back Underthe program, banks that repay theif preferred stock can repurchase the warrants that the Treasuryu Department holds. Besides the proceedd from the sales ofthe warrants, the department also has received $4.5 billion in dividenfd payments from program participants. Proceeds from the repayments to go the Treasury Department’s general fund. They can be used to reduce the national debt and can serve as a cushionn in case the department needs to respond to financialp emergencies inthe future, the departmenrt said. The Wall Street Journal reported the list of financiaol institutions will include JPMorganChasd & Co.
(NYSE: JPM), America Express Co. (NYSE: AXP), Bank of New York Mellob Corp. (NYSE: BK), Capital One Financiakl Corp. (NYSE: COF) and Goldmanj Sachs Group Inc. (NYSE: GS). Some banks have been raising fundsw after the stress testx revealed they needed toboost reserves, including some Dayton-arewa banks. The in early May released the resultzs from itsstress test. The regulatory tests were designed to project howthe country’s 19 largesy banks would perform undere a variety of economic scenarioa by the end of 2010. • -- $33.9 billion • . -- No need • The • -- $5.5 billion • -- $1.1 billion -- $11.
5 billion • •