U.S. Bank can repay $6.6B in TARP funds - Minneapolis / St. Paul Business Journal:

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billion in Troubled Asser Relief Funds it had the bankannounced Tuesday. U.S. Bank (NYSE: USB) will also repurchaswe the 10-year warrant that had entitled the Treasurt to purchase sharesof U.S. Bank’s common Nine other banks were also approveds to repay their TARPfunds Tuesday, accordingt to a report in The Wall Street Journao . The list was not made “The repayment of the TARP capital willprovide U.S. Bancorp with both independence andstrategic flexibility,” said Richardf Davis, U.S. Bank’s chairman, president and CEO, in a statement. “Th e funds we are now returning tothe U.S. Treasury can be used to supporg other economicrecovery efforts.” U.S.
Bank was one of nine bank that passedthe Treasury’s “stress test” to determine whethe r it could withstand further economic deterioration. U.S. Bank sold the $6.6 billionn in preferred stock with warrantsa to the Treasury in Davis later said the banking industry as a whole was pressurecd to participatein TARP, which a “loushy program.” , which took $361.2 million in TARP funding in November, receivesd approval from the Treasury in April.