Banks Vie to Be First to Repay Federal Aid

Banks in the United States are fighting to be in the first wave of lenders that will repay the funds granted by the federal government.

In the conditions in which the authorities have sent to executives on Wall Street, that will allow a series of five or six financial groups to repay a part of the loans before other creditors, writes Financial Times.

Bankers expect that the Treasury and Central bank (Fed) to nominate the following weeks, the first banks to repay funds from government, in the context in which the state has granted billions of dollars to creditors through economic incentive of 700 billion dollars.

The banks which have a better financial situation hope that through return of government loans, to obtain advantages in the face with rivals such as Citigroup or Bank of America, creditors that may remain included in the government for a longer period.