Bank of America Wants In On This TARP Payback Business, ASAP

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Not as soon as Goldman, though that'd be nice, but about three decades earlier than anyone expected it'd get done. BAC is apparently telling people it'll have the government out its hair by the end of the year, after raising the $35 billion in capital the Treasury claims are necessary by September, and returning the strings-attached bailout funds. This bold declaration, possibly spawned by liquid courage, has resulted in lots of laughs and many a "have another drink, Ken." Even the FT is barely able to conceal the smirk on its face.

BofA's desire to repay its Tarp money early will surprise the market. Most analysts expect BofA to be one the last banks to do this, partly because of the large amount of the funds it received and partly because it was found to have the biggest capital shortfall of any US bank in recent regulatory stress tests.

BofA Seeks To Repay $45bn By End Of Year [FT]

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