Keeping track of who’s paying back.

UPDATE (July 29, 2009): Despite public outrage over the government's $700 billion TARP bank bailout program, treasury and bank spin-doctors alike have coolly and consistently contended that the capital infusions are, in fact, investments. So how much money has Tim Geithner collected on the loans so far?

Counting dividend payments on preferred stock held by the treasury and warrant repurchases by banks that have repaid their bailout funds, the total figure is a little more than $8.4 billion. Assuming one ignores the $487.7 billion or so in outstanding investments, that’s not a bad take.

The $8.4 billion includes $1.39 billion from warrants purchased through July and $6.65 billion in life-to-date dividend payments through June, based on treasury data released last Friday. It also includes $340 million from American Express’ (AXP) repurchase of its warrants, which CNBC reports is forthcoming.

The $1.39 billion in warrants cash comes from 18 other banks that, like Amex, already repaid the treasury's initial investments. The vast majority of the total sum comes from Goldman Sachs (GS) warrants, which the firm repurchased for $1.1 billion last week.

The $6.65 billion in life-to-date dividends cash includes payments from banks that are still enrolled in the program as well as those that have repaid their TARP money. The biggest contributors are, unsurprisingly, those banks in which the government continues to hold the largest stake: Citigroup (C) leads with payments totaling $1.39 billion, but Bank of America (BAC) trails closely behind with $1.11 billion.

The TARP-o-Meter's July bookkeeping is also coming a little early this month, and the numbers look strong. Sure, the treasury pumped $7.1 billion more into General Motors (GMGMQ) and $1.1 billion into 12 firms [the largest sum being $950 million for Lincoln National Corporation (LNC)] for a total of $8.2 billion in new TARP investments so far. But thanks to a $70 billion markdown in the funds committed to the Public Private Investment Plan—under which the treasury provides financing for private investment firms to purchase toxic assets—the TARP-o-Meter has come out ahead nonetheless. We're now noting the not-lent category at roughly $140.7 billion, based on ProPublica's count of available funds.

UPDATE (July 20, 2009): Last Wednesday, Old Line Bancshares (OLBK) of Bowie, Md., returned all of its $7 million in $TARP, according to a Treasury transactions report. That may not seem like much—the total repaid category still rounds to $71.6 billion—but here at the TARP-o-Meter, every $1 million counts. Let's hear it for Old Line!

UPDATE (July 16, 2009): On Tuesday, Chrysler Financial Services repaid its full $1.5 billion in TARP funds, according to a press release issued by the lending arm of the recently bankrupt automaker. That bumps the total-repaid category up to roughly $71.6 billion and earns the firm a spot in Tim Geithner's Golden Circle. Thank you, Chrysler Fiat!

UPDATE (July 13, 2009): Last Wednesday, July 8, First Community Bancshares (FCBC) of Bluefield, Va., transferred all of its $41.5 million in TARP money back into Treasury coffers. The small firm received the funds on Nov. 21, 2008, among the early disbursements under the bailout program. First Community's return is the first (and only) since 10 megabanks repaid a total of $68 billion last month and keeps the total repaid category at roughly $70.1 billion. Thanks, Bluefield bankers, for the welcome contribution.

Click here for a full list of who repaid what, and when.

UPDATE (July 7, 2009): The time has come for some June bookkeeping. On the returns front, there's not much news: No financial firm has repaid $TARP since 10 mega-banks wired a grand total of $68 billion back to the government on June 17. (Scroll down for more details.) That holds the total repaid category at $70.1 billion. Thanks again, banks, for donating the big bucks last month.

On the bailouts front, Tim Geithner and Co. disbursed an additional $3.79 billion in TARP funds to banks over the course of June, bumping the total not-lent category down to roughly $63.1 billion. Of the $3.79 billion, the government pumped $3.4 billion into Hartford Financial Services (HIG) and distributed the remaining $390 million among 35 smaller banks. The mean payout to the 35 firms was $11 million, and the median was $6.9 million.

Click here for a full list of who paid back what and when.

UPDATE (June 18, 2009): Yesterday, 10 of the biggest, baddest U.S. megabanks proudly completed repayment of their $68.226 billion in $TARP, according press releases (and one exchange filing) issued by the firms. That boosts donations to the TARP-o-Meter up to $70.1 billion, a roughly 3,743 percent increase in the total-repaid category. Who said charities struggle in a recession?

The refunds mark the end of the megabanks' scramble to dodge more stringent regulations for banks with government money and shed the negative image hitched to the program. Like any good parent, the Treasury let all its favorite children more or less win by approving 10 major financial institutions to return their funds last week and allowing them to repay all at once. (That means none gets a significant public relations edge over the others and has the added benefit of fostering the perception that the economy writ large is back on track.)

Sumwise, JP Morgan Chase (JPM) clocked in first with the largest return to date, transferring $25 billion back into Treasury coffers. Morgan Stanley (MS) and Goldman Sachs (GS) tied for second with $10 billion borrowed and repaid. U.S. Bancorp (USB) returned all $6.6 billion of its $TARP. Capital One (COF) repaid its full $3.55 billion, American Express (AXP) its $3.4 billion, and BB&T (BBT) its $3.1 billion. Bank of New York Mellon (BK) returned all of its $3 billion, State Street (STT) its $2 billion, and Northern Trust (NTRS) its $1.576 billion.

The repayments also broke the seal on the top tiers of the TARP-o-Meter Donor Roll. They earn JP Morgan, Morgan Stanley, Goldman Sachs, and U.S. Bancorp seats in Henry "Hank" Paulson's Platinum Circle, and the rest of the banks get spots in Timothy Geithner's Golden Circle. Let's welcome them all to the clubhouse with a hearty round of applause. (And a friendly reminder: This party is bring-your-own-parachute).

UPDATE (June 9, 2009): Today, 10 of the nation's largest banks received permission from the Treasury to repay a total of $68.226 billion in government bailout funds, paving the way for the firms' induction into the upper echelons of our donor roll and boosting the TARP-o-Meter's pledge category by $50.476 billion.

JP Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), Capital One (COF), American Express (AXP), BB&T (BBT), Bank of New York Mellon (BK), State Street (STT), and Northern Trust (NTRS) have all been approved by the Treasury to return their $TARP, according to press releases issued by the banks.

None of the banks disclosed when exactly they would repay. But receiving the Treasury's permission, which is granted based on each firm's capital position and ability to raise debt without FDIC guarantees, is the last major hurdle to clear in the race to escape the bailout program. So they're likely to wire the money over soon.

In other, smaller, news, Berkshire Hills Bancorp (BHLB) of Pittsfield, Mass., quietly completed its repayment of $40 million in TARP funds two weeks ago, based on a Treasury Department transactions report. Last Wednesday, Valley National Bancorp (VLY) of Wayne, N.J., repaid $75 million of its $300 million total of borrowed $TARP, and Home Federal Financial Corp (HFFC) of Sioux Falls, S.D., repaid its $25 million in full.

The three banks' repayments tick the total-repaid tally up to $1.873 billion.

Last but not least, the TARP-o-Meter also lost $32 billion since we took stock last, based on ProPublica's calculation of total TARP commitments. GM's $30.1 billion bailout, which followed on the heels of its bankruptcy filing, accounts for the majority of the drop. The rest comprises a handful of smaller payouts to eight banks, totaling $89.1 million, and additional funding for Chrysler. We're now marking the not-yet-lent category down at roughly $66.9 billion.

Click here for a full list of who's paid what and when.