10 large US banks to repay government $68 billion in bailout funds, industry officials say

August 31st, 2009 Report: US makes $4 billion from bailout banksWASHINGTON — The U.S. government has hauled in about $4 billion in profits from large banks that have repaid their obligations from last year's federal bailout, The New York Times reported Sunday.

June 17th, 2009 Goldman Sachs repays government investmentNEW YORK — Goldman Sachs Group Inc. said Wednesday it has repaid the $10 billion it received last fall as part of the government's $700 billion bank bailout program.

June 17th, 2009 AP Source: Morgan Stanley to repay TARP WednesdayNEW YORK — Morgan Stanley is expected to repay its government bailout money on Wednesday, according to a person familiar with the talks between the bank and the government. The investment bank will return all of the $10 billion in loans it received last fall during the height of the credit crisis, said the person, who spoke on condition of anonymity because he is not authorized to speak publicly about the bank's plans.

June 17th, 2009 10 large US banks to repay $68B in TARP fundsWASHINGTON — A key government effort to ease the credit crisis reached a milestone Wednesday as 10 large banks said they had repaid a total of $68 billion in bailout funds. Treasury said last week that the banks could begin repaying money they received under the $700 billion financial system bailout known as the Troubled Asset Relief Program, or TARP.

June 17th, 2009 Goldman Sachs to repay $10B in government fundsNEW YORK — Goldman Sachs says it is ready to repay a $10 billion government investment on Wednesday. The bank made the disclosure in letters to high-ranking congressmen and senators on Tuesday.

June 17th, 2009 Morgan Stanley pays back $10B in bailout fundsNEW YORK — Morgan Stanley said Wednesday it repaid the $10 billion it received last fall as part of the government's $700 billion bank investment program. Morgan Stanley received the money as part of the Treasury Department's Troubled Asset Relief Program to help revive the stagnant credit and lending markets amid one of the worst periods of the credit crisis.

June 9th, 2009 List of 10 banks that will repay bailout moneyThe Treasury has given 10 banks permission pay back a total of $68 billion in government bailout money. The banks include the eight recipients of bailout money that passed regulators' stress test last month, plus the investment bank Morgan Stanley and Chicago-based custody bank Northern Trust Corp.

June 9th, 2009 Stocks edge higher as investors look to banksNEW YORK — Investors are showing little reaction to word that 10 of nation's largest banks can repay $68 billion in bailout money. Stocks are moderately higher but traders are reacting coolly to the Treasury Department's announcement that the banks, which were not named, will be allowed to repay the money they received from the $700 billion emergency rescue fund created by Congress at the height of the financial crisis in October.

June 8th, 2009 Stress-tested banks raise $75.2 billion in capitalSixteen of the 19 large banks that underwent government stress tests last month have raised more than $75 billion in capital, either because regulators required it or because the banks want to return federal bailout funds. Banks have also been issuing debt to prove to officials that they can finance operations on their own.

June 2nd, 2009 JPMorgan, Amex launch stock offers to repay TARPWASHINGTON — JPMorgan Chase & Co. and American Express Co.

June 2nd, 2009 Goldman Sachs sells $1.9B stake in China's ICBCHONG KONG — Goldman Sachs has raised more than $1.9 billion after selling part of its stake in Industrial & Commercial Bank of China as the U.S. investment firm seeks to repay government bailout funds.

June 1st, 2009 JPMorgan Chase to raise $5 billion to repay TARPNEW YORK — JPMorgan Chase & Co. said Monday it plans to raise $5 billion through a common stock offering as it seeks to repay the $25 billion that the bank was awarded in the government's troubled asset relief program.

June 1st, 2009 Fed outlines rules for repaying bailout moneyWASHINGTON — The Federal Reserve on Monday laid out rules for banks seeking to repay taxpayer bailout funds, clearing the way for the 19 largest financial institutions to wind down their reliance on government support. The rules apply to the nation's 19 largest banks, which have assets of more than $100 billion and were subjected to "stress tests" to determine their financial strength.

May 13th, 2009 Geithner: Bailout repayments will broaden programWASHINGTON — The Obama administration will use bailout money repaid by large banks to provide additional capital infusions to community banks, Treasury Secretary Timothy Geithner said Wednesday. In remarks to an association of community bankers, Geithner also said the administration is moving forward with plans to streamline financial rules as part of a broader overhaul to be unveiled in the next several weeks.

May 6th, 2009 Official: Bailout returns will have conditionsWASHINGTON — The government will require banks seeking to return federal bailout money to prove they don't need other special federal assistance, a condition that will make it harder for some institutions to escape restrictions on executive compensation. The new requirement represents another shift in a changing landscape for banks.