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

Wed Apr 22, 2009 11:40pm BST
 
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(Reuters) - The U.S. Treasury Department estimates that it has about $134.6 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 $198.4 billion under this program.

Seven banks have returned $467.3 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. JPMorgan Chase & Co. also has said it is ready to repay $25 billion but was waiting for government guidance on when it could do so.

-- $50 billion pledged to reduce mortgage foreclosures by providing incentives to lenders and servicers to modify loans. It has allocated $13.92 billion in potential incentives to 11 firms so far.

-- $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.  Continued...

 

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