JPMorgan Chase and Morgan Stanley will no longer issue government- guaranteed bonds in an effort to sever their financial ties to the US authorities and show investors they can fund themselves without Washington's help.
In separate statements, the two banks said on Tuesday they did not expect to have to sell short-term bonds backed by the Federal Deposit Insurance Corp, a banking regulator.
The announcements by the two banks, which could be followed by Goldman Sachs and the other institutions that passed the government's recent stress tests, make it likely the debt guarantee plan will not be extended beyond its October deadline.
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