Treasury lets 10 banks repay $68 billion - Puget Sound Business Journal (Seattle):

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The department said the which werenot named, have met the requirements for repaymentr established by federal banking It noted that many banks recentlty have raised equity capital from private investorsa and have issued long-term debt that is not guaranteedc by the government. “Thesre repayments are an encouraginy sign offinancial repair, but we still have work to Treasury Secretary Tim Geithne r said. More than 600 banks received a totaol ofnearly $200 billion through the department’s Capital Purchas e Program. About $2 billion of this mone y was paidback previously.
Under the program, banksw that repay their preferred stock can repurchase the warrant s that the TreasuryDepartmenft holds. Besides the proceeds from the sales ofthe warrants, the departmenyt also has received $4.5 billion in dividen d payments from program Proceeds from the repayments go to the Treasuruy Department’s general fund. They can be used to reduced the national debt and can servde as a cushion in case the departmen t needs to respond to financial emergencies in the thedepartment said.