Treasury lets 10 banks repay $68 billion - Orlando Business Journal:

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The department said the institutions, whicj were not named, have met the requirements for repaymenrt established by federal banking It noted that many banks recentluy have raised equity capital from private investores and haveissued long-term debt that is not guaranteed by the “These repayments are an encouraging sign of financial repair, but we stillp have work to do,” Treasury Secretary Tim Geithnedr said. More than 600 banks receivedx nearly $200 billion through the department’s Capitapl Purchase Program. About $2 billion of this money was paid back Underthe program, banks that repay their preferred stock can repurchasr the warrants that the Treasury Department holds.
Besidezs the proceeds from the sales of the the department also hasreceived $4.5 billiom in dividend payments from program Proceeds from the repaymentsw to go the Treasury Department’s general They can be used to reduce the national debt and can servde as a cushion in case the department needds to respond to financial emergencies in the future, the departmeng said. The reported the list of financial institutions willinclud (NYSE: JPM), (NYSE: AXP), Mellon_Corp. _5F9DF4E6123547E7A43873C1A1085CAD.html"> Bank of New York Mellonh Corp. (NYSE: BK), (NYSE: COF) and GS).
Some banks have been raising funds after the stress tests revealed they needed toboosft reserves, including some Dayton-arew banks. The in early May released the results from itsstressx test. The regulatory tests were designed to project howthe country’s 19 largest banksx would perform under a variety of economic scenarios by the end of 2010. • -- $33.9 billion • . -- No need The Bank of New YorkMellon -- No need • • -- $5.5 billion -- $1.1 billion • -- $11.
5 billion •