FACTBOX: U.S. commits over $5.704 trillion in financial rescues
(Reuters) - U.S. financial rescue efforts have in recent months committed -- and put at risk -- up to $5.704 trillion in public funds, though a good portion of those funds may be recouped if the assets rise in value.
Following is a rundown of the total amount of known U.S. public funds at risk -- either spent, allocated or pledged -- in Federal Reserve liquidity actions, Treasury Department financial rescue efforts, housing support legislation and actions by other federal agencies:
* Up to about $1.8 trillion in Fed purchases of top-rated U.S. dollar commercial paper under a Commercial Paper Funding Facility launched in October. The Fed said it does not intend to buy anywhere near this amount, which represents what eligible issuers could sell -- up to $1 billion per issuer. As of November 19, the Fed's holdings in this facility were $270.88 billion.
* Up to $600 billion in Fed purchases of U.S. dollar commercial paper and certificates of deposit to be purchased by the Federal Reserve under a Money Market Investor Funding Facility announced October 21.
* Up to $900 billion in Fed Term Auction Facility loans to be made available over the year-end period to meet financial institutions' cash needs, including $600 billion in normal auction facilities and two $150 billion "forward" TAF auctions conducted this month. As of November 19, $415.3 billion in TAF credit was extended.
* Unlimited commitments to lend through discount window to banks and broker dealers. Credit extended under these facilities totaled $296.82 billion as of November 19.
* $700 billion for the Treasury to buy equity stakes in financial institutions. The Treasury allocated $250 billion of this amount to banks and thrifts and granted another $40 billion to insurer American International Group and $20 billion to Citigroup, under special rescue programs. The ultimate cost of these programs is uncertain and the government could profit if the shares rise in value.
* The Treasury and the Federal Deposit Insurance Corp have agreed to shoulder up to $249.3 billion in losses from a Citigroup portfolio of $306 billion in risky assets.
* Unlimited temporary Fed currency swap lines with The European Central Bank, and central banks in England, Japan and Switzerland. It maintains $165 billion in swap lines with other central banks to address elevated pressures in U.S. dollar short-term funding markets.
* Up to $50 billion from the Great Depression-era Exchange Stabilization Fund to guarantee principal in money market mutual funds to provide the same confidence that consumers have in federally insured bank deposits.
* At least $26.57 billion in Treasury direct purchases of mortgage-backed securities since September. The Treasury has said it will continue to make purchases in the months ahead.
* $200 billion to backstop Fannie Mae and Freddie Mac. The Treasury will inject up to $100 billion into each institution by purchasing preferred stock to shore up their capital as needed.
* Up to $144 billion in additional MBS purchases by Fannie Mae and Freddie Mac since their portfolio limits were expanded when the government took them over in September.
* AIG will get up to $152.5 billion in support from Treasury equity purchases and loans from the Fed.
* At least $87 billion in New York Fed repayments to JPMorgan Chase & Co for providing financing to underpin trades with units of bankrupt investment bank Lehman Brothers Holdings Inc.
* $300 billion for the Federal Housing Administration to refinance failing mortgage into new, reduced-principal loans with a federal guarantee, passed as part of a broad housing rescue bill. Continued...




