U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012.  REUTERS/Shamil Zhumatov  (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012.  REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

Fleet Week

The U.S. Navy takes Manhattan for a week.  Slideshow 

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The SpaceX mission

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FACTBOX: Where has the bailout money gone?

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Wed Mar 25, 2009 1:54pm EDT

(Reuters) - The Treasury Department's plan to tap its $700 billion bailout fund to seed a public-private program to sop up banks' toxic assets leaves the fund with only about $86 billion that has not yet been disbursed or pledged for specific uses.

The department said it has disbursed $328.38 billion from the program as of March 20, but it has pledged a much larger amount.

Following is an outline of funds spent or pledged from the TARP bailout fund so far:

-- 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 with financing from the Federal Deposit Insurance Corp and the Federal Reserve.

-- An unspecified amount pledged to pump capital into banks. In the most recent report on bank investment transactions through March 20, the Treasury said it had completed equity purchases totaling $198.6 billion.

-- $50 billion pledged for mortgage foreclosure mitigation.

-- $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 to the investment, the Treasury agreed to cover up to $5 billion in losses on the portfolio. The $20 billion is in addition to $25 billion disbursed in the initial round of bank capital injections.

-- $20 billion investment in Bank of America as part of a package in which the government agreed to share in losses on $118 billion of assets. The $20 billion is in addition to $25 billion disbursed earlier as part of the Treasury's bank capital program.

-- $40 billion investment in troubled insurer American International Group made on November 25. In addition, the Treasury said on March 2 that it stood ready to provide up to $30 billion more.

-- $24.78 billion has been disbursed to prop up the U.S. auto industry, according to the latest transactions report. On March 19, the Obama Administration pledged up to $5 billion to assist auto suppliers.

-- $20 billion has been shifted to a special purpose vehicle, TALF LLC, to cover potential losses for a $200 billion Federal Reserve program to support credit card, auto, education and small business lending. This program is expected to be expanded to $1 trillion, requiring the Treasury to increase its contribution to $100 billion.

(For details on money already disbursed and recipients, see: here)

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