SunTrust Banks (STI) CEO Said It Won't Issue Common Stock To Repay TARP

At a Barclays conference, SunTrust Banks (NYSE: STI) CEO James Wells said the company won't issue common stock just to repay TARP, according to reports from Reuters.

Wells also said he expects losses lower than the stress test predictions and expects regulators to allow repayment of TARP once its clear those losses won't be realized. Wells also expects commercial, construction defaults to rise and expects Q3 loan loss reserves will look like Q2.

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