White House To Announce First TARP Payback Banks

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A handful of small banks have already payed back TARP, but the large recipients have been waiting around for rules and permission to do so.

According to WaPo, the initial list of TARP repayees will be announced sometime today or possibly tomorrow. Among those on the list: JPMorgan (JPM), Goldman Sachs (GS) and American Express (AXP). All three were deemed among the healthiest institutions following the release of the stress test results.

Notably absent from the list include Bank of America (BAC), Wells Fargo (WFC) and Morgan Stanley (MS), though our guess is that those latter two will end up repaying TARP in short order. Bank of America has crowed about all the money it’s raised, but it may be a while long for them.

Citigroup (C), as result of having its preferred shares converted to common, will likely be a ward of the state for quite some time.

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