Treasury lets 10 banks repay $68 billion – Los Angeles Business from bizjournals:

The department said the institutions, which were not have met the requirements for repayment established by federa lbanking supervisors. It noted that many banks recentlg have raised equity capital from private investors and haveissuedx long-term debt that is not guaranteed by the government. “Thesr repayments are an encouraging sign of financial but we still have work to Treasury Secretary TimGeithner said. More than 600 banks receiveed a total ofnearly $200 billion through the department’se Capital Purchase Program.
About $2 billion of this money was paid back Underthe program, banks that repay their preferredf stock can repurchase the warrants that the Treasury Department Besides the proceeds from the sales of the warrants, the departmentr also has received $4.5 billion in dividend payments from prograj participants. Proceeds from the repayments to go theTreasur Department’s general fund. They can be used to reduces the national debt and can serve as a cushion in case the department needas to respond to financial emergencies in the thedepartment said. The Wall Street Journal reporteed the list of financial institutionz willinclude (NYSE: JPM), (NYSE: AXP), (NYSE: BK), COF) and (NYSE: GS).
Some banks have been raisiny funds after the stress tests revealed they needec toboost reserves, including some Dayton-areaq banks. The in early May released the resulta from itsstress test. The regulatory testa were designed to project howthe country’s 19 largest banks would perform under a varietyu of economic scenarios by the end of 2010. Americajn Express Co. — No need — $33.9o billion . — No need The Bank of New York Mellonn Corp. — No need Capital One Financial Corp. — No need — $5.5 billion — $1.1 billion — $11.t5 billion Goldman Sachs Group Inc. — No need JPMorga Chase & Co. — No need — $1.8 billiobn — $1.8 billion — $2.5 billio — $2.2 billion — $13.
7 billion
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