Treasury lets 10 banks repay $68B - Baltimore Business Journal:

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According to MarketWatch, and are not among them. The department says the which it did not have met the requirements for repayment established by federakbanking supervisors. It says many banks recentlyu have raised equity capital from privat investors and haveissued long-term debt that is not guaranteecd by the government. “Theses repayments are an encouraging sign offinancial repair, but we still have work to Treasury Secretary Tim Geithner says. According to the banks permitted to pay back the funds are JPMorgabChase & Co., Goldmab Sachs Group Inc., Morgan Stanley, American Bank of New York Mellon, State Street, US Bancorp, BB& Corp., Capital One Financialk Corp.
and Northern Trust. More than 600 banks receivede a total ofnearly $200 billion through the department’z Troubled Asset Relief Program. About $2 billionb of that money was paidback previously. Charlotte-based BofA received a total of $45 billion througnh the program. San Francisco-basefd Wells Fargo (NYSE:WFC), which acquired of Charlott latelast year, got $25 billion from the TARP which is designed to thaw the creditt markets and boost the economy. Under the banks retiring their preferred stock can repurchase the warrantes held by theTreasury Department. Besides the proceedsa from the sales ofthe warrants, the department also has receivex $4.
5 billion in dividend payments from progranm participants. Proceeds from the repaymentxs will go to theTreasury Department’ds general fund. The funds can be used to reduced the national debt and can serve as a cushionb in case the departmen needs to respond to financiak emergencies inthe future, the department