Bank of New York Mellon is aiming towards being one of the first U.S. banks to repay U.S. aid because being a recipient of the Troubled Asset Relief Program (TARP) is viewed as a sign of weakness, Financial Times reports. Chairman and CEO Bob Kelly said he hoped to return the money in June or July.

The bank had $3 billion in TARP money and had raised $1.2 billion in equity in order to repay it. It also cut its dividend and is planning to return its Federal Deposit Insurance Corporation-guaranteed funds too.

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