NEW YORK (AP) _ Goldman Sachs and Morgan Stanley have formally asked the Federal Reserve for permission to repay a combined $20 billion in federal bailout money. The requests are pending and no decision has been made on whether the investment banks will get approval to repay the money and sever ties with the Troubled Asset Relief Program, according to two people familiar with the matter. They spoke on condition of anonymity because the banks' discussions with the Fed are ongoing. Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co. have said for weeks that they want to repay TARP funds so they can operate free of federal limits on executive pay and other restrictions on the money. A JPMorgan spokesman declined to comment on whether the bank has requested permission to repay TARP.