Bank of America has joined the growing list of US banks that are seeking to repay funds borrowed under the government’s bank recapitalisation scheme as quickly as possible. Ken Lewis, BofA chief executive, told the LA Times this week he hoped to start repaying $45bn in taxpayer funds in late April, after results of the Treasury’s first round of “stress tests” for banks are issued. Ideally, BofA wants to repay the entire $45bn by the end of 2009, he added.

This entry was posted by Gwen Robinson on Thursday, March 26th, 2009 at 5:00 and is filed under Capital markets. Tagged with BofA. Edit this entry.