Big U.S. banks are in discussions with the Treasury Department to provide up to $20B in emergency loans, according to a media report published on Thursday.
After finalizing a $20B currency swap framework last week with Argentina, the U.S. has been looking to double the aid to $40B through a combination of financing from sovereign funds and the private sector.
The lenders, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) are talking about an emergency loan backed by Argentine assets, Semafor reported, citing people familiar with the matter.
Meanwhile, U.S. President Donald Trump has warned that he would drop the backstop if Argentine President Javier Milei doesn’t win the Oct. 26 midterm elections.
Related tickers: (ARGT) (ARS:USD) (MERVAL).
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