Goldman, JPMorgan may get OK to repay TARP: reports

NEW YORK Mon Jun 8, 2009 9:56am EDT

Flags fly outside of the Goldman Sachs headquarters building in the financial district of New York May 8, 2009. REUTERS/Lucas Jackson

Flags fly outside of the Goldman Sachs headquarters building in the financial district of New York May 8, 2009.

Credit: Reuters/Lucas Jackson

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NEW YORK (Reuters) - The U.S. Federal Reserve is expected to say Goldman Sachs Group Inc, JPMorgan Chase & Co 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, JPMorgan, American Express Co, Morgan Stanley, State Street Corp and U.S. Bancorp, the New York Post said on Monday, without saying where it got the information.

These banks, as well as BB&T Corp, 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.

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 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.

(Reporting by Jonathan Stempel)

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