by Bill McBride on 11/23/2009 08:11:00 PM
Monday, November 23, 2009
From Bloomberg: Fed Said to Ask Banks to Submit Plans to Repay TARP (ht MrM)
The central bank this month asked Bank of America Corp. and eight other banks to [submit repayment plans with a timetable]. ... Together the nine banks have received about $142 billion in TARP funds ... The banks in the stress test that have yet to repay TARP are Bank of America, PNC, Citigroup Inc., Fifth Third Bancorp, GMAC Inc., KeyCorp, Regions Financial Corp., SunTrust Banks Inc. and Wells Fargo & Co.I'd like to see the plans made public. I'd especially like to see Citi's, BofA's, and GMAC's plans.
The Fed conducted the stress tests, but didn't the Treasury loan the money? Shouldn't the Treasury be asking for the repayment plans? Just asking ...
Posted by Bill McBride on 11/23/2009 08:11:00 PM