THE BASIS POINT

Citi to Raise $20b To Repay $45b TARP Funds, BofA Pays Full 45b Off

 

The FT reports that Citi could repay TARP funds as soon as this week. Reports don’t confirm whether they’d pay back the full $45b they owe, but state that Citi would raise $20b in an equity offering—the same tactic Bank of America used to repay their entire $45b TARP obligation using cash and proceeds of stock issuance. More technical details of BofA’s TARP repayment here.

 

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