US banks expected to repay $25bn (BBC)

[eppur_se_muova]

US financial institutions will repay $25bn (£16bn) of bail-out funds over the next year, the US Treasury says.

Treasury Secretary Timothy Geithner told US Congress the money will be used to further assist institutions in need of financial help.

Including the anticipated repayment, he estimated that $123.7bn was left from the the $700bn financial bail-out fund approved by Congress in October.

He also said the financial system was starting to heal.

In testimony before the US Senate Banking Committee, Mr Geithner said the remaining money would be used to further strengthen bank balance sheets and to assist the US auto industry.
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more: http://news.bbc.co.uk/2/hi/business/8059950.stm




Um ... I'll wait and see ...

[DJ13]

1. If these institutions are mainly doing this to avoid pay & compensation caps

I hope Treasury has advised them that theres no coming back in the future to get more TARP funds.