NEW YORK, April 3 (Reuters) - Countrywide Financial Corp CFC.N, the largest U.S. mortgage lender, on Thursday said it has reduced its target bonuses for three top executives.

In a regulatory filing, Countrywide said it set 2008 target bonus amounts of $673,750 for Chief Financial Officer Eric Sieracki, $2,900,750 for capital markets president Ranjit Kripalani, and $1,766,250 for enterprise risk management chief Carlos Garcia.

Countrywide said the amounts represented reductions of 55.1 percent, 54 percent and 39.1 percent from 2007 levels.

The company said it may consider operating performance, productivity, expense management, key employee retention, and matters related to Countrywide's planned acquisition by Bank of America Corp (BAC.N: Quote, Profile, Research) in setting executives' actual bonuses.

Countrywide lost about $1.62 billion in the second half of 2007 as mortgage and credit markets deteriorated.

Separately, Calabasas, California-based Countrywide confirmed that Chief Operating Officer David Sambol was on April 1 to receive a performance-based restricted stock award worth at least $9 million.

Sambol was tapped to lead Bank of America's consumer mortgage operations after the merger is completed.

The Charlotte, North Carolina-based bank last week said it agreed to pay Sambol $28 million, an amount that vests over three years, to run that business.

Bank of America, the second-largest U.S. bank, agreed in January to buy Countrywide, a transaction now valued at about $4.2 billion. The companies expect a third-quarter closing. (Reporting by Jonathan Stempel; editing by Gunna Dickson)