Treasury gets $55 billion in TARP repayments today

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Five big banks today made good on their promises to repay government capital received under the Troubled Asset Relief Program.

JPMorgan Chase & Co. said it paid the Treasury $25 billion, Morgan Stanley returned $10 billion, Goldman Sachs Group repaid $10 billion, U.S. Bancorp returned $6.6 billion and BB&T Corp. gave back $3.1 billion.

The five are among 10 major banks that last week said they had received permission from regulators to repay the funds.

The Treasury still has $143 billion invested in about 585 financial institutions, according to a tally by bank research firm Keefe Bruyette & Woods.

The other five major banks that are expected to repay TARP money soon: American Express Co., Bank of New York Mellon Corp., Capital One Financial Corp., Northern Trust Corp. and State Street Corp.

UPDATE at 2 p.m. PDT: American Express, Bank of New York Mellon, Capital One, Northern Trust and State Street all announced later Monday that they had returned their TARP funds to the Treasury. The five repaid a total of $13.6 billion.

Bank stocks overall are modestly lower today after credit-rating firm Standard & Poor’s downgraded its ratings on 18 of the lenders, including BB&T, Capital One, U.S. Bancorp and Wells Fargo & Co. S&P said it expected business conditions to become more difficult for the banks in part because of tighter federal regulation.

-- Tom Petruno