Goldman, JPMorgan May Get OK to Repay TARP - Financials * US * News * Story

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Goldman, JPMorgan May Get OK to Repay TARP

Topics:TARP | Banking

Sectors:Financial Services | Banks

By: Reuters | 08 Jun 2009 | 08:28 AM ET

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The U.S. Federal Reserve is expected to say Goldman Sachs Group, JPMorgan Chase and perhaps a few other banks will be allowed to repay money to the Troubled Asset Relief Program, The Wall Street Journal said on Monday, without saying where it got the information.

Some of the banks expected to get the green light to pay back TARP money include Goldman [GS Loading... () ], JPMorgan [JPM Loading... () ], American Express [AXP Loading... () ], Morgan Stanley [MS Loading... () ], State Street [STT Loading... () ] and U.S. Bancorp [USB Loading... () ], the New York Post said on Monday, without saying where it got the information.

These banks, as well as BB&T [BBT Loading... () ], have already signaled their intent to repay TARP money to the government.

Later this week, the government is expected to disclose which of the 19 largest U.S. banks will be allowed to repay some or all of their TARP money.

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The banks recently underwent "stress tests" of their ability to handle a deep recession.

Regulators ordered 10 of the banks to raise more capital.

Among the banks mentioned above, only Morgan Stanley [MS Loading... () ] had a shortfall, and that bank said it had since more than filled it. Capital One Financial Corp also had no shortfall.

Monday is the deadline for regulators to approve capital-raising plans at the banks found to need more capital.

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