RSS Feed by Calculated Risk on 6/17/2009 04:05:00 PM
Wednesday, June 17, 2009
Nine Banks Repay $66.3 Billion in TARP Funds
UPDATE: State Street repaid $2 billion according to Bloomberg, so the total is $68.3 billion.
From DOW JONES: Financial Firms Repay $66.3B In TARP Funds
Ten banks were given $68.3 billion last fall and received approval last week to repay the funds. So far, just State Street Corp. (STT) - which ranked 9th in terms of the amount it received at $2 billion - has yet to announce its repayment.It is a little confusing because Northern Trust (NTRS) wasn't one of the 19 stress test banks.
JPMorgan, U.S. Bancorp (USB), American Express Co. (AXP), Bank of New York Mellon Corp. (BK), BB&T Corp. (BBT) and Northern Trust Corp. (NTRS) also announced plans to buy back the related warrants associated with TARP. Goldman, Morgan Stanley and Capital One Financial Corp. (COF) didn't address the warrants.
| Name | TARP Amount | Repay |
|---|---|---|
| Bank of America | $52.5 billion | No way! |
| Citigroup | $50 billion | No way! |
| JPMorgan Chase | $25 billion | Repaid |
| Wells Fargo | $25 billion | - |
| GMAC | $12.5 billion | No way! |
| Goldman Sachs | $10 billion | Repaid |
| Morgan Stanley | $10 billion | Repaid |
| PNC Financial Services | $7.6 billion | - |
| U.S. Bancorp | $6.6 billion | Repaid |
| SunTrust | $4.9 billion | - |
| Capital One Financial Corp. | $3.6 billion | Repaid |
| Regions Financial Corp. | $3.5 billion | - |
| Fifth Third Bancorp | $3.4 billion | - |
| American Express | $3.4 billion | Repaid |
| BB&T | $3.1 billion | Repaid |
| Bank of New York Mellon | $3 billion | Repaid |
| KeyCorp | $2.5 billion | - |
| State Street | $2 billion | Repaid |
| MetLife | None | - |
