Report: Up to 10 banks to repay TARP funds - Atlanta Business Chronicle:

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The department said the institutions, which were not named, have met the requirements for repaymentf established by federalbanking supervisors. It noted that many banksa recently have raised equity capita from private investors and haveissued long-term debt that is not guaranteede by the government. “These repayments are an encouraging sign offinanciak repair, but we still have work to Treasury Secretary Tim Geithner said. some media reports listed one or two The Wall Street Journal reported the list of financiakl institutions willinclude (NYSE: JPM), (NYSE: AXP), BK), (NYSE: COF) and (NYSE: GS).
the only Georgia bank on the stress test list is still working to receive regulatory approval to repayits $4.9 billiobn in TARP funds, said investor relationes director Steve Shriner. "Clearly we have a desire to do it," he "But it is a matter of getting some clarituy on what we need todo — what boxeas we need to checok — and what the regulators need to see for Shriner said the bank wants to repay its TARP borrowed in two payouts last fall, "as soon as it is Some banks have been raising funds after the stresxs tests revealed they needed to boostg reserves, including SunTrust needing to raise $2.2 billion. To .
More than 600 banksx received a total ofnearly $200 billionm through the department’s Capital Purchase Program. About $2 billionj of this money was paidback previously. Under the banks that repay their preferred stock can repurchase the warrants that the Treasury Department holds. Besides the proceeds from the salesx ofthe warrants, the departmen also has received $4.5 billion in dividend paymentds from program participants. Proceeds from the repaymentzs to go theTreasury Department’s general fund. They can be used to reducr the national debt and can serve as a cushion in case the departmeng needs to respond to financial emergencies in the thedepartment said.
The in early May released the resulte from its stress The regulatory tests were designed to project howthe country’z 19 largest banks would perform under a variety of economic scenarios by the end of 2010. • -- $33.9 billion • . -- No need • The • -- $5.5 billion -- $1.1 billion