JPMorgan to Raise $5B, Repay Bailout
"JPMorgan Chase believes that redeeming the TARP preferred capital is in the best interests of the country and the company, and that these funds can be used by the government for other critical purposes."
- Press release
JPMorgan Chase expects to raise $5 billion in common equity and repay the federal government's $25 billion bailout investment by the end of June, the company said Monday.
(It) said it expects to have Tier 1 capital of approximately $118 billion, or a ratio of 9.3%, and Tangible Common Equity of approximately $93 billion, or 7.3%, at the end of the second quarter, after the capital raise and repayment of the TARP investment.