US extends bailout authority to October 2010

US Treasury Secretary Timothy Geithner on Wednesday extended the authority of a 700-billion-dollar financial bailout to October 2010 even as he noted the program would cost less than expected.

Bank of America repays USD 45 bn of federal money

The Bank of America has repaid the US govt the entire bailout money of USD 45 bn. The Department of the Treasury announced on Wednesday that it has received full repayment on its TARP investments in BoA in the sum of USD 45 bn.

TARP costs likely to be cut by $200 bn: Report

The US plans to slash the project
costs of the Troubled Asset Relief Program (TARP) by over USD
200 billion, says a media report.

Bank of America to repay $45 bn govt bailout funds

Bank of America Corp said it would repay USD 45 bn of taxpayer bailout funds, a move that could free the top US lender from pay curbs as it looks to hire a new CEO, but also makes it more vulnerable to further economic shocks.

Geithner says $700 bn bailout program will end soon

Treasury Secretary Timothy Geithner affirmed on Wednesday the administration`s intent to soon end the USD 700 billion financial bailout program.

US deficit estimate to be trimmed to $1.58 tr

The Obama administration will trim its budget deficit forecast for fiscal 2009 to USD 1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.