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Morgan Stanley expected to repay TARP on Wednesday

Published 06/16/2009, 09:23 AM
Updated 06/16/2009, 09:32 AM
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NEW YORK, June 16 (Reuters) - Morgan Stanley is expected on Wednesday to begin repaying billions of dollars in bailout funds received from the U.S. Treasury, a person familiar with the situation said.

Last week Morgan Stanley said it was among ten major banks who would be allowed to repay loans they received from the U.S. Treasury's Troubled Asset Relief Program, known as TARP. Morgan Stanley received $10 billion under the program.

The results of a government stress test of the major banks released last month showed that Morgan Stanley needed to raise $1.8 billion in capital. The bank has raised more than $10 billion through equity, debt and asset sales. (Reporting by Steve Eder; Editing by Derek Caney)

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