CDS spreads tighten on Tarp repayment promises

On June 9, the Treasury granted permission to 10 of the largest financial institutions participating in its Capital Purchase Program - a component of the Tarp in which the Treasury committed to purchasing up to $250 billion of senior preferred shares of qualified financial institutions - to repay a combined total of $68 billion.

The Treasury did not disclose which banks were eligible for repayment, but JP Morgan confirmed today that it would repay the full $25 billion preferred investment it rece

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