The Federal Reserve said Tuesday that approval for big banks seeking to repay bailout money could start in early June.
A Fed official said several of the country’s 19 largest banks that participated in the recent stress tests are interested in repaying the money they received from the government’s $700 billion bailout fund.
The official said the Fed, which supervises the largest banks, had requested additional information from the banks needed to support the repayment requests. This official, who spoke on condition of anonymity, said the announcements could be made during the week of June 8.
The Associated Press