Wednesday, June 17, 2009

Nine Banks Repay $66.3 Billion in TARP Funds

by Calculated Risk on 6/17/2009 04:05:00 PM

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.

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.
It is a little confusing because Northern Trust (NTRS) wasn't one of the 19 stress test banks.

NameTARP AmountRepay
Bank of America$52.5 billionNo way!
Citigroup$50 billionNo way!
JPMorgan Chase$25 billionRepaid
Wells Fargo$25 billion -
GMAC$12.5 billionNo way!
Goldman Sachs$10 billionRepaid
Morgan Stanley$10 billionRepaid
PNC Financial Services$7.6 billion -
U.S. Bancorp$6.6 billionRepaid
SunTrust$4.9 billion -
Capital One Financial Corp.$3.6 billionRepaid
Regions Financial Corp.$3.5 billion -
Fifth Third Bancorp $3.4 billion -
American Express$3.4 billionRepaid
BB&T$3.1 billionRepaid
Bank of New York Mellon $3 billionRepaid
KeyCorp$2.5 billion -
State Street $2 billionRepaid
MetLifeNone -
Bailout amounts from Pro Publica : Eye on the Bailout