Fed to Announce TARP Repayment Response Around June 8

After receiving requests from several major banks to repay emergency government investments, Bloomberg news service, citing a central bank official said Tuesday that the Federal Reserve plans to announce its first response to banks’ requests to repay TARP funds around the week of June 8.

From Bloomberg: The timing means it may be at least three weeks before Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley get an answer to their applications to refund a combined $45 billion of government funds. That would mark the biggest reimbursement to taxpayers since the $700 billion program began in October.

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