FACTBOX: Where has the bailout money gone?
WASHINGTON (Reuters) - The U.S. Treasury Department said on Friday that it stood ready to prevent the failure of a U.S. automaker until Congress reconvenes next year.
The statement followed the collapse of a deal in the U.S. Senate to bailout out Detroit's Big Three.
Congress approved a $700 billion 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 $155.3 billion had been completed as of the latest statement on the Treasury's cash position, which covered the period through December 9. 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.
-- $20 billion pledged to cover potential losses for a Federal Reserve program aimed at improving consumer access to credit.
Following is a list of the banks and thrifts in which Treasury has completed an investment under its $250 billion Capital Purchase Program:
JPMorgan $25 billion
Citigroup $25 billion
Wells Fargo $25 billion
Bank of America $15 billion
Merrill Lynch $10 billion (see note)
Goldman Sachs $10 billion
Morgan Stanley $10 billion
Bank of New York Mellon $3 billion
State Street Corp $2 billion
Bank of Commerce $17 million
First Financial Svcs $16 million
UCBH Holdings Inc $299 million
Northern Trust Corp $1.6 billion
SunTrust Banks $3.5 billion
Broadway Financial Corp $9 million
Washington Federal $200 million
BB&T Corp $3.1 billion
Provident Bancshares Corp $151 million
Umpqua Holdings Corp $214 million
Comerica $2.3 billion
Regions Financial $3.5 billion
Capital One Financial $3.6 billion
First Horizon National $866 million
Huntington Bancshares $1.4 billion
KeyCorp $2.5 billion
Valley National Bancorp $300 million
Zions Bancorp $1.4 billion
Marshall & Ilsley Corp $1.7 billion
US Bancorp $6.6 billion
TCF Financial $361 million
First Niagara Financial $184 million
HF Financial Corp $25 million
Centerstate Banks Fla. $28 million
First Community Bancshares,Inc. $42 million
Western Alliance Bancorp. $140 million
Webster Financial $400 million
Pacific Capital Bancorp. $181 million
Heritage Commerce Corp. $40 million
Ameris Bancorp. $52 million
Porter Bancorp $35 million
Banner Corp $124 million
Cascade Financial $39 million
Columbia Banking $77 million
Heritage Financial Corp. $24 million
First PacTrust Bancorp. $19 million
Severn Bancorp, Inc. $23 million
Boston Private $154 million
Associated Banc-Corp $525 million
Trustmark Corp $215 million
First Community Corp. $11 million
Taylor Capital $105 million
Nara Bancorp, Inc. $67 million
Midwest Banc Holdings $85 million
MB Financial, Inc. $20 million
First Midest Bancorp $19 million
United Community Banks $180 million
Wesbanco Bank, Inc. $75 million
Encore Bancshare, Inc. $34 million
Manhattan Bancorp $1.7 million
Iberiabank Corporation $90 million
Eagle Bancorp, Inc. $38 million
Sandy Spring Bancorp $83 million
Coastal Banking Co, Inc. $10 million
East West Bancorp. $307 million
South Financial Group $347 million
Great Southern Bancorp $58 million
Cathay General Bancorp $258 million
Southern Community Fin $43 million
CVB Financial, Corp. $130 million
First Defiance Fin $37 million
First Financial Hldgs $65 million
Superior Bancorp, Inc. $69 million
Southwest Bancorp, Inc. $70 million
Popular, Inc. $935 million
Blue Valley Ban Corp $22 million
Central Federal Corp $7.2 million
Bank of Marin Bancorp $28 million
Bank of North Carolina $31 million
Central Bancorp, Inc. $10 million
S. Missouri Bancorp $9.6 million
State Bancorp, Inc. $39 million
TIB Financial, Corp. $37 million
Unity Bancorp, Inc. $21 million
Old Line Bancshares $7.0 million
FPB Bancorp, Inc. $5.8 million
Sterling Financial Corp. $303 million
Oak Valley Bancorp $14 million
TOTAL: $165.3 billion
NOTE: Capital injection to Merrill Lynch deferred pending its merger with Bank of America.
(Compiled by Reuters' Washington bureau)
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