Wednesday, May 20, 2009

Where the TARP Money Has Gone

In congressional testimony this morning, Treasury Secretary Geithner outlined where TARP money has been allocated and how much is left. Here is Treasury’s estimate:


Projected Use of TARP/Financial Stability Plan Funds by Administration as of May 18, 2009

Programs Announced Under Bush Administration


AIG
$40 billion

Citi/Bank of America (TIP and Guarantees)
$52.5 billion

Autos
$24.9 billion

Capital Purchase Program
$218 billion

TALF 1.0
$20 billion

Subtotal
$355.4 billion

Programs Announced Under Obama Administration

Housing
$50 billion

AIG (Second Investment)
$30 billion

Auto Suppliers
$5 billion

Additional Autos
$10.9 billion

Expansion of Consumer and Business Lending Initiative *

TALF Asset Expansion (New Issuance) **
$35 billion

Unlocking SBA Lending Markets
$15 billion

Public Private Investment Program ***

TALF for Legacy Securities
$25 billion

Other PPIP Programs for Legacy Assets
$75 billion

Subtotal
$245.9 billion

Total Committed (Without Potential Repayments)
$601.3 billion

Total Remaining (Without Potential Repayments)
$98.7 billion

Conservative Estimate of Potential Repayments
$25 billion

Total Committed (Including Potential Repayments)
$576.3 billion

Total Remaining (Including Potential Repayments)
$123.7 billion

Additional Funding

Additional Support for the Auto Industry

Capital Assistance Program

* The Consumer and Business Lending Initiative also includes the $20 billion committed to TALF under the previous administration and the $25 billion committed to TALF for legacy securities under the PPIP, amounting to an overall total of $80 billion under TALF and $95 billion under the CBLI.


** New assets made eligible under the expansion of TALF include commercial mortgage-backed securities, mortgage servicing advances, loans or leases relating to business equipment, leases of vehicle fleets, and floor plan loans.


*** The Public-Private Investment Program was announced at a level of $75 to $100 billion, which includes $75 billion in additional resources for the PPIP program on top of $25 billion devoted to TALF for Legacy Securities.

1 comment:

  1. Treasury wrote off $7 billion in loans to Chrysler. I'm not sure how they account for it in their numbers.

    ReplyDelete