"The Treasury Department has approved 10 of the nation's largest banks to repay $68 billion in government bailout money," the Associated Press writes.

Treasury hasn't yet named the banks, AP adds, but it notes that "among the banks that passed government 'stress tests' last month and likely were approved to repay the bailout funds are: Goldman Sachs Group Inc., JPMorgan Chase & Co., and American Express Co."

Speaking of the stress tests, yesterday the Congressional Oversight Panel issued a report that says they were "based on a solidly designed working model."

But, the panel said, "serious concerns remain." It offered these recommendations:

— The unemployment rate climbed to 9.4% in May, bringing the average unemployment rate for 2009 to 8.5%. If the monthly rate continues to increase, the 2009 average may exceed the 8.9% assumed under the more adverse scenario, suggesting that the stress tests should be repeated if that occurs.

— Stress testing should also be repeated so long as banks continue to hold large amounts of toxic assets on their books.

—Between formal tests conducted by the regulators, banks should be required to run internal stress tests and should share the results with regulators.

— Regulators should have the ability to use stress tests in the future when they believe that doing so would help to promote a healthy banking system.

This hour, panel chair Elizabeth Warren is testifying before the Joint Economic Committee on Capitol Hill. That hearing is being webcast here.

Earlier this week, The Wall Street Journal's David Wessel talked with Morning Edition's Steve Inskeep about the banks and their ability to pay back some of the funds.