US Treasury to recover $170 bln after PNC repayment

WASHINGTON Feb 3 (Reuters) - The U.S. Treasury Department said on Wednesday it will have recovered $170 billion in financial rescue funds once PNC Financial Services Group Inc (PNC.N) has repaid money loaned to it from the government's bailout program.

"Once Treasury receives PNC's repayment, it will have recovered nearly 70 percent of taxpayer investments in the banking system," the department said.

PNC said on Feb. 2 it would repay $7.6 billion in Troubled Asset Relief Program money to the government.

This repayment means that of the $376 billion in total TARP funds that have been disbursed since 2008, only $203 billion will be outstanding, the department said. (Reporting by Nancy Waitz; Editing by Dan Grebler)