US Banks Race to Repay Tarp Cash

Date: Tuesday, May 19, 2009
Author: Gwen Robinson, FT Alphaville.com

US banks are vying to be in the first wave of lenders to repay US bail-out funds after Washington said it would allow five or six big financial groups to repay their Tarp loans before the rest of the industry to avoid a “rush for the exit”, reports the FT. The first group is likely to be named within weeks. Bloomberg reports on Tuesday that Goldman, JPMorgan and Morgan Stanley have applied to repay the combined $45bn they received in October.