Between them the two banks received $70 billion worth of bailout funds under the scheme, which was designed to support the struggling financial services sector in the US.
Citigroup, which received $45 billion of support, confirmed it had made its planned $20 billion repayment and also announced it had ended its loss-sharing agreement with the US government.
The financial services company was able to repay the TARP investment after it raised $20.5 billion in a securities offering.
Under a previous agreement, the US government exchanged $25 billion worth of bailout funds for common stock in Citigroup.
Meanwhile, Wells Fargo has revealed it has repaid in full the $25 billion of TARP support it received.
Wells Fargo recently raised $12.25 billion in a public stock offering in order to help it to repay the TARP funds.
By Gary Cooper