(Reuters) - The Treasury Department on Thursday said it has disbursed $326.82 billion from the $700 billion financial bailout program approved by Congress in October.
While less than half has been disbursed, most of the emergency fund has already been pledged.
Following is an outline of funds spent or pledged from the TARP bailout fund so far:
-- An unspecified amount pledged to seed a public-private partnership to buy bad assets from banks.
-- An unspecified amount pledged to pump capital into banks. In the most recent report on bank investment transactions through March 6, the Treasury said it had completed equity purchases totaling $197 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.
-- $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.