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WASHINGTON, Jan 5 (Reuters) - General Motors Corp GM.N will receive a second $5.4 billion installment of its government loan on Jan. 16, the U.S. Treasury said on Monday.

In a transaction report for its bailout fund, the Treasury said it has approved the release of a total of $9.4 billion for GM, including $4 billion disbursed on Dec. 31 and $5.4 billion to be funded on Jan. 16.

The Treasury has agreed to lend GM another $4 billion, but those funds would come from a second $350 billion tranche of the $700 billion Troubled Asset Relief Program, which Congress could block.

GM on Monday reported a 31 percent decline in U.S. sales in December compared with a year earlier, capping a 23 percent decline for all of 2008.

The Treasury report also confirmed disbursement of $20 billion to Citigroup (C.N: Quote, Profile, Research) and $15 billion to seven U.S. banks, including $7.58 billion to PNC Financial Services Group (PNC.N: Quote, Profile, Research) and $3.41 billion to Fifth Third Bancorp (FITB.O: Quote, Profile, Research).

Other banks receiving TARP funds included: commercial finance firm CIT Group Inc CIT.N; SunTrust Banks (STI.N: Quote, Profile, Research); Hampton Roads Bankshares (HMPR.O: Quote, Profile, Research); First Banks Inc and West Bancorp (WTBA.O: Quote, Profile, Research).

To date, the Treasury has released nearly $257 billion for payment from the TARP fund, including a $4 billion loan for Chrysler LLC that closed on Friday.

However, the Treasury has allocated in excess of the TARP's first tranche of $350 billion. If it must make good on all of its pledges and Congress denies or delays the release of a second tranche, some institutions could face a reduction in requested funds.