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.