A group of U.S. banks is reportedly working to secure certain guarantees for a $20 billion loan to Argentina, according to The Wall Street Journal, citing sources.

JPMorgan Chase, Bank of America, and Goldman Sachs are said to be “doing everything possible to structure the loan for Argentina while avoiding a fallout from the nearly bankrupt South American country.”

The newspaper notes that the loan is part of a broader plan by U.S. President Donald Trump and his administration to provide financial support to Argentine President Javier Milei’s government. The plan includes a $20 billion currency swap and similar loans from private financial institutions. U.S. banks are awaiting guidance from the Treasury Department regarding what guarantees can be provided by either Argentina or the U.S.

Earlier, President Milei stated that his government is discussing possible forms of financial aid with the U.S. to help service its debts. On October 9, U.S. Treasury Secretary Scott Bessent announced that Washington would intervene in Argentina’s currency market.