Top 10 US banks to return TARP funds
Posted by admin . Published on 09 June 2009, Received
The top banks of US were ailing in deep financial mess a year back, and they were on the brink of collapse. That is when the US government helped them to avoid bankruptcy, by providing them over 80 billion dollars of aid through TARP funds.
Now, these banks have raised over 56 billion dollars from the market through new securities issue in the last two months. These banks are planning to refund the TARP funds to the US government , on which an announcement from the US Treasury is expected today.
Refunding of the funds will help the US treasury to use it for some other productive purpose, while these banks will get more leeway in terms of executive pay and also key business decisions.
