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

WASHINGTON (Reuters) - The U.S. Treasury Department said on Tuesday that it completed purchases of equity in 28 banks last week as part of a plan to stabilise the financial system and help return those banks to normal lending.

Congress approved a $700 billion (448.6 billion pounds) financial rescue program in early October that Treasury would tap. Currently, it only has authority to use half of those funds and it has already pledged all but $15 billion of that amount. However, if it abandoned plans to inject more capital into banks, it would have about $100 billion on hand.

Following are details on what has been spent or pledged so far out of the $350 billion Treasury currently has authority to draw on:

-- $250 billion to buy senior preferred shares and warrants in banks and thrifts.

Of that, purchases of $167.8 billion had been completed as of the latest statement on the Treasury's cash position, which covered the period through December 12. A further $10 billion is

approved for Merrill Lynch but has been deferred pending its merger with Bank of America.

-- $40 billion investment in troubled insurer American International Group, which has been completed.

-- $20 billion investment into Citigroup pledged as part of a bailout announced on November 23.

-- $5 billion pledged to cover potential losses on a portfolio of Citigroup mortgage-related assets.