Morgan Stanley repays $10 bln TARP

 @ibtimes
on June 17 2009 12:06 PM

Morgan Stanley on Wednesday repaid $10 billion in government bailout funds after the bank was given permission with nine others to return the money.

The company said it appreciated the support of the U.S. government, Congress and the Administration during the challenging period.

Other Banks are also expected to make repayments today including the Goldman Sachs Group and U.S. Bankcorp.

JPMorgan Chase & Co and American Express Co were also expected to repay $25 billion and $3.4 billion, respectively, on Wednesday according to reports from The Wall Street Journal.

The financial services firm said it welcomed the regulatory reforms proposed by the Obama Administration and would continue to work with government to ensure safety and soundness in the banking system and the strength and stability of our overall financial system.

The company when asked whether it would one day possibly seek a government loan should it find the need to do so did not want to comment on the matter.

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