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Wednesday, December 02, 2009

BofA to Repay $45 Billion in TARP

by Calculated Risk on 12/02/2009 05:55:00 PM

Update: Press Release from BofA: Bank of America to Repay Entire $45 Billion in TARP to U.S. Taxpayers

From CNBC: Bank of America Out of TARP, Says Gasparino (ht Mr. Mortgage)

CNBC’s Charlie Gasparino tells the desk that Bank of America is going to repay $45 billion and get out of the TARP program.

And they will raise capital over the next few days, he adds.
From the WSJ: Bank of America to Repay $45 Billion in TARP
The bank plans to raise about $20 billion in new capital ... a move required by federal regulators to ensure the bank has sufficient capital reserves and won't need to come back to the government for additional aid.