(Reuters) - The U.S. Treasury Department estimates that it has about $134.5 billion (90.3 billion pounds) remaining in the $700 billion financial rescue fund approved by Congress in October.
Treasury officials say the estimate includes an assumption that $25 billion in capital provided to banks will be returned, a projection Treasury Secretary Timothy Geithner has called “very conservative.”
Following is an outline of funds spent or pledged from the bailout fund so far:
-- An unspecified amount pledged to recapitalize the nation’s largest banks, as needed, under the Capital Assistance Program after regulators conclude a series of “stress tests” to determine capital needs.
-- 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. Officials say the figure includes $25 billion to expand the Federal Reserve’s Term Asset-Backed Loan Facility, or TALF, to accept so-called legacy assets as collateral.
-- The Treasury estimates that it will provide $218 billion in capital to banks under its original Capital Purchase Program, which was initially eyed at $250 billion. The latest transaction report shows the Treasury had net investments of $198.40 billion under this program.
Six banks have returned $442.3 million to the Treasury, and Goldman Sachs GS.N has said it plans to repay $10 billion in government capital pending regulatory approval and results of a "stress test" due by the end of April.
-- $50 billion pledged to reduce mortgage foreclosures by providing incentives to lenders and servicers to modify loans.
-- $20 billion investment in Citigroup C.N as part of a package in which the government agreed to share in losses on $301 billion of assets. In addition, the Treasury has disbursed $5 billion as part of its second-loss guarantee. The $20 billion is in addition to $25 billion disbursed as part of the Capital Purchase Program.
-- $20 billion investment in Bank of America BAC.N as part of a package in which the government agreed to share in losses on $118 billion of assets. In addition, the Treasury has pledged to cover up to $7.5 billion in potential losses as part of a second-loss guarantee. The $20 billion is in addition to $25 billion disbursed earlier as part of the Capital Purchase Program.
-- $40 billion investment in troubled insurer American International Group AIG.N. In addition, the Treasury has said it stands ready to provide up to $30 billion more.
-- $24.8 billion has been disbursed to prop up the U.S. auto industry, according to the latest transactions report, and $5 billion in aid for auto parts suppliers has been disbursed to special purpose funding vehicles set up by General Motors GM.N and Chrysler LLC.
-- $20 billion has been shifted to a special purpose vehicle to cover potential losses on $200 billion in lending under the Fed’s TALF. Treasury officials say they intend to provide an additional $35 billion to enlarge this program for lending against recently originated securities. When considered in conjunction with the $25 billion being set aside to expand TALF to cover older securities, the Treasury has said it intends to commit $80 billion to TALF.
-- $15 billion pledged to purchase securities backed by Small Business Administration loans.