FACTBOX-Where has the U.S. bailout money gone?

Tue Apr 14, 2009 10:58pm BST
 
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    April 14 (Reuters) - The U.S. Treasury Department estimates 
that it has about $134.5 billion remaining in the $700 billion 
financial rescue fund approved by Congress in October. 
    Treasury officials say the estimate includes an assumption 
that $25 billion in capital provided to banks will be returned, 
a projection Treasury Secretary Timothy Geithner has called 
"very conservative." 
    Following is an outline of funds spent or pledged from the 
bailout fund so far: 
    
    -- An unspecified amount pledged to recapitalize the 
nation's largest banks, as needed, under the Capital Assistance 
Program after regulators conclude a series of "stress tests" to 
determine capital needs. 
    -- The Treasury said it would use $75 billion to $100 
billion to seed its public-private plan to buy up to $500 
billion worth of toxic assets. Officials say the figure 
includes $25 billion to expand the Federal Reserve's Term 
Asset-Backed Loan Facility, or TALF, to accept so-called legacy 
assets as collateral. 
    -- The Treasury estimates that it will provide $218 billion 
in capital to banks under its original Capital Purchase 
Program, which was initially eyed at $250 billion. The latest 
transaction report shows the Treasury had net investments of  
$198.40 billion under this program. 
    Six banks have returned $442.3 million to the Treasury, and 
Goldman Sachs  has said it plans to repay $10 billion in 
government capital pending regulatory approval and results of a 
"stress test" due by the end of April. 
    -- $50 billion pledged to reduce mortgage foreclosures by 
providing incentives to lenders and servicers to modify loans. 
    -- $20 billion investment in Citigroup  as part of a 
package in which the government agreed to share in losses on 
$301 billion of assets. In addition, the Treasury has disbursed 
$5 billion as part of its second-loss guarantee. The $20 
billion is in addition to $25 billion disbursed as part of the 
Capital Purchase Program. 
    -- $20 billion investment in Bank of America  as 
part of a package in which the government agreed to share in 
losses on $118 billion of assets. In addition, the Treasury has 
pledged to cover up to $7.5 billion in potential losses as part 
of a second-loss guarantee. The $20 billion is in addition to 
$25 billion disbursed earlier as part of the Capital Purchase 
Program. 
    -- $40 billion investment in troubled insurer American 
International Group . In addition, the Treasury has said 
it stands ready to provide up to $30 billion more. 
    -- $24.8 billion has been disbursed to prop up the U.S. 
auto industry, according to the latest transactions report, and 
$5 billion in aid for auto parts suppliers has been disbursed 
to special purpose funding vehicles set up by General Motors 
Corp  and Chrysler LLC. 
    -- $20 billion has been shifted to a special purpose 
vehicle to cover potential losses on $200 billion in lending 
under the Fed's TALF. Treasury officials say they intend to 
provide an additional $35 billion to enlarge this program for 
lending against recently originated securities. When considered 
in conjunction with the $25 billion being set aside to expand 
TALF to cover older securities, the Treasury has said it 
intends to commit $80 billion to TALF. 
    -- $15 billion pledged to purchase securities backed by 
Small Business Administration loans. 
 (For details on money already disbursed and recipients, see: 
http://www.financialstability.gov/impact/transactions.htm  
((Compiled by Reuters Washington bureau)) 
Keywords: FINANCIAL/BAILOUT FUND  
    
 
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