US banks expected to repay $25bn

US financial institutions will repay $25bn (£16bn) of bail-out funds over the next year, the US Treasury says.
Treasury Secretary Timothy Geithner told US Congress the money will be used to further assist institutions in need of financial help.
Including the anticipated repayment, he estimated that $123.7bn was left from the the $700bn financial bail-out fund approved by Congress in October.
He also said the financial system was starting to heal.

In testimony before the US Senate Banking Committee, Mr Geithner said the remaining money would be used to further strengthen bank balance sheets and to assist the US auto industry.
He also said that a public-private partnership to help US banks get rid of their toxic assets will begin operating in the next six weeks.
The programme combines up to $100bn in government funds with private money in order to create a fund that would have the ability to buy up toxic assets, with the Federal Reserve providing most of the lending.