Fed asks banks for TARP repayment plan, source says

11/24/2009 | Bloomberg

The Federal Reserve asked nine banks that were stress-tested this year to outline how they plan to repay the government for money they received through the Troubled Asset Relief Program, a source said. If the banks are able to exceed previously set capital buffers, they might be given the option to repay funds soon. "It would send a terrific message to the market if there was a plan and a timetable for at least the top banks in TARP to pay the money back," said Joel Conn, president of Lakeshore Capital. "It would signify they are good enough to stand on their own."

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