U.S. dismissed JPMorgan, Amex's TARP objections - FT

June 5 (Reuters) - Dismissing strong objections from JPMorgan Chase and American Express Co executives, U.S. regulators insisted the banks raise equity this week before repaying bail-out funds, the Financial Times reported.

Citing people close to the situation, the FT said the Federal Reserve imposed the requirement on the two banks because they were the only institutions that had passed the recent 'stress tests' but had not yet raised equity.

In talks last week, bank executives disagreed with the authorities and claimed that the banks did not need the money, the paper said.

The Fed, JPMorgan and American Express did not immediately respond to Reuters emails seeking comment that were sent outside normal business hours.

JPMorgan sold $5 billion of stock and American Express $500 million at a discount to Monday's prices after the Fed imposed the capital-raising requirements on large banks hoping to repay the Treasury Department's Troubled Asset Relief Program.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Neil Fullick) Keywords: FED/BANKS ([e-mail]; within US. [phone]; outside U.S. [phone] [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.