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Official: Bailout returns will have conditions

Official: Bailout returns will have conditions

A senior government official says banks that want to return government bailout funds will have to first show that they can do business without the help of federal guarantees.
The federal government on Wednesday is expected to issue guidelines to banks that have received money from the $700 billion Troubled Asset Relief Program and now want to return the money. That would free the banks from federal restrictions on executive compensation.
The official, speaking on condition of anonymity because the standards have not been made public, said banks will have to demonstrate that they do not need debt guarantees provided by the Federal Deposit Insurance Corp. The FDIC program allows financial institutions to borrow money at lower costs.


Updated : 2021-05-16 13:47 GMT+08:00