U.S. to allow 10 banks to repay TARP money: report

The Treasury Department will allow 10 banks to pay back Troubled Asset Relief Program funds, Bloomberg said, citing people familiar with the matter.

JPMorgan Chase & Co is one of the banks, the news agency said, citing an anonymous source.

The Treasury did not immediately respond to a Reuters email, seeking comment on the report, that was sent outside normal business hours.

The government conducted "stress tests" on the 19 largest U.S. banks to assess their exposure to risky real estate and other loans and to weigh how they might fare if economic conditions deteriorated.

Read Full Article from Reuters

- Posted: 2009-06-09 07:24:59

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