Bank of America Returns Money to U.S. Treasury

Bank of America, the largest bank in the U.S., plans to repay 45 billion dollars to the U.S. Treasury. Other leading banks such as Goldman Sachs, JP Morgan Chase and Morgan Stanley have announced a similar intention in recent days.

The reason of the Bank of America is the desire to eliminate the debts created by state aid collected. A good sign we would say, if keep in mind that the amounts are part of a plan to support banks in difficulty.

Reimbursement will be supported including the capital increase. Worth over 35 billion dollars, it would take place by the end of September, according to sources cited by the publication “Financial Times” taken by Reuters.

Through a bond issue, Bank of America has already obtained a capital increase of 13.47 billion dollars and concludes, therefore, an important step in the goal set by the U.S. government after the application of stress tests in the banking system.