Fed asks 'stress-tested' banks when it can expect TARP repayments

The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.

The banks may be allowed to repay the TARP money soon if they have been able to raise common equity recently and would continue to exceed capital buffers that were set in the stress tests, the news agency cited the person as saying.