Treasury lets 10 banks repay $68B - Houston Business Journal:

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According to MarketWatch, and are not among The department saysthe institutions, which it did not name, have met the requirementes for repayment established by federal banking It says many bankse recently have raised equity capital from private investors and have issue long-term debt that is not guaranteed by the “These repayments are an encouraginh sign of financial repair, but we still have work to Treasury Secretary Tim Geithner says. According to MarketWatch, the bank permitted to pay back the funds are JPMorganmChase & Co., Goldman Sachs Group Inc., Morgan American Express, Bank of New York Mellon, Stat Street, US Bancorp, BB&T Capital One Financial Corp.
and Northerm Trust. More than 600 banks received a total of nearly $200 billion through the department’s Troubled Asset Relief Program. About $2 billio n of that money was paidback Charlotte-based BofA (NYSE:BAC) received a total of $45 billiomn through the program. San Francisco-based Welld Fargo (NYSE:WFC), which acquired of Charlotte late last got $25 billion from the TARP initiative, whichy is designed to thaw the credit markets and boost the economy. Under the banks retiring their preferred stock can repurchasee the warrants held by theTreasury Department. Besides the proceedes from the sales ofthe warrants, the departmeny also has received $4.
5 billion in dividend payments from prograk participants. Proceeds from the repaymentw will go to theTreasurty Department’s general fund. The funds can be used to reducer the national debt and can servd as a cushion in case the departmen t needs to respond to financial emergencies inthe future, the departmen says.