Two US banks outline TARP bailout loan repayment plans


Reuters

NEW YORK/CHARLOTTE, North Carolina — Two regional U.S. banks plan to repay their government bailout loans, a sign of health that could put pressure on other lenders to shed government aid.

Huntington Bancshares said it was issuing stock and bonds to help repay US$1.4 billion it received under the U.S. Government’s Troubled Asset Relief Program (TARP) in November 2008. First Horizon National Corp said it is selling debt and equity to pay off US$867 million of TARP aid.