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Article: JPMorgan Chase to Raise $5 Billion in Common Equity to Satisfy a Supervisory Condition for TARP Repayment Requiring Demonstrated Access to Equity Capital Markets.
- Article from:
- Business Wire
- Article date:
- June 1, 2009
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The Company Expects to Have Tier One Capital of Approximately $118 Billion or 9.3% and Tier One Common of Approximately $93 Billion or 7.3% at the End of the Second Quarter
The Company Believes That It Has Met All Conditions and Will Fully Redeem the $25 Billion of TARP Preferred Capital before the End of June
NEW YORK -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it intends to raise $5 billion in common equity to satisfy a supervisory condition that the largest bank holding companies redeeming TARP (Troubled Asset Relief Program) preferred capital demonstrate access to the equity capital markets. While approval has not been granted, the ...