WASHINGTON — Bank of America Corp. plans to repay $45 billion in government aid, a move that will allow the bank to begin escaping pay and other restrictions imposed by the U.S., according to people familiar with the matter.

The bank plans to raise about $20 billion in new capital, these people said, a move required by federal regulators to ensure the bank has sufficient capital reserves and will not need to come back to the government for additional aid.

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