Oct 16 (Reuters) - Banks including JPMorgan ( JPM ),

Bank of America ( BAC ), Goldman Sachs ( GS ) and Citigroup ( C/PN )

are in talks with the U.S. Treasury to provide up to $20

billion in loans to Argentina, Semafor reported on Thursday,

citing people familiar with the matter.

U.S. Treasury Secretary Scott Bessent on Wednesday had said

that the department was working with banks and investment funds

to create a $20 billion facility to invest in the South American

country's sovereign debt.

Bessent said that the facility would sit alongside a new $20

billion U.S. currency swap line for Argentina, providing a total

of $40 billion in support for Latin America's third-largest

economy.

The banks are discussing an emergency loan backed by

Argentine assets, Semafor said, adding that talks are ongoing

and specific collateral is still being ironed out.

BofA, Goldman Sachs ( GS ) and Citigroup ( C/PN ) declined to comment, while

JPMorgan ( JPM ) did not immediately respond when contacted by Reuters.

President Donald Trump said on Tuesday that the U.S. would

not "waste our time" with Argentina if President Javier Milei's

party loses in parliamentary elections on October 26.

But Bessent clarified that the U.S. would continue to

support Argentina financially as long as Milei's government

pursues "good policies," regardless of the election outcome.