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Citi chair says no timetable for repaying its $45bn Tarp loans

<div>CITIGROUP fully hopes to pay back the $45bn (&pound;28bn) it borrowed from the US Treasury&rsquo;s banking bailout program, but there is no timetable, the bank&rsquo;s chairman said yesterday.<br />&nbsp;</div>
<div>Richard Parsons said the fact that Citi has been unable to repay its loans puts it at a disadvantage in terms of attracting and retaining key talent.<br />&nbsp;</div>
<div>Last week, 10 major banks, including Goldman Sachs Group, Morgan Stanley, and JPMorgan Chase, said they would be allowed to begin repaying loans from the Troubled Asset Relief Program (Tarp).<br />&nbsp;</div>
<div>&ldquo;I do worry we could be competitively disadvantaged if we aren&rsquo;t able to find a way to quickly repay Tarp," said Parsons, who added that he opposes caps on compensation.<br />&nbsp;</div>
<div>He said the firm had a plan to repay its Tarp loan but did not give specifics.</div>