US Treasury's announcement that 10 of the 19 largest U.S. banks will be allowed to repay (about $68 billion) Troubled Asset Relief Program (TARP) funds ($700 billion) led to a rally in these stocks.
Information on these stocks, their stock prices, change in stock prices and amount of TARP money planned for repayment is given below:
BB&T Corp. (BBT 22.45, +0.52 – plans to repay $3.1 billion to the Treasury, plus accrued and unpaid dividends.),
US Bancorp (USB 18.18, -0.17; $6.6 billion),
Capital One Financial (COF 24.05, +0.61; $3.6 billion),
JPMorgan Chase (JPM 35.26, -0.13; $25 billion),
Bank of New York Mellon (BK 28.79, +0.25; $3 billion),
American Express (AXP 26.93, +1.28; $3.4 billion),
Morgan Stanley (MS, $10 billion),
Northern Trust (NTRS 56.36, +0.98; $1.6 billion),
Goldman Sachs (GS 149.31, +0.96), and
State Street Corporation (STT, $2 billion).
