(Reuters) - The U.S. Treasury said on Friday that it had disbursed a further $100 million from its $700 billion financial rescue fund on January 29.
The Treasury said the latest outlay brought the total disbursed under the so-called Troubled Asset Relief Program to $293.76 billion. The financial rescue funds are being used to shore up the banking system and faltering U.S. automakers.
Following is an outline of TARP funds spent or pledged so far:
— $250 billion pledged for purchases of senior preferred shares and warrants in banks and thrifts under the Capital Purchase Program.
In the most recent report on TARP transactions through January 23, the Treasury said it had completed equity purchases totaling $194.2 billion in 317 institutions under the CPP program.
— $20 billion pledged for Bank of America, in addition to $25 billion for the bank already disbursed under the $250 billion plan to shore up bank capital.
— $40 billion investment in troubled insurer American International Group.
— $20 billion investment in Citigroup.
— $5 billion pledged to cover potential losses on a $306 billion portfolio of Citigroup mortgage-related assets.
— $20.9 billion to prop up the U.S. auto industry. The amount includes $10.4 billion in loans to General Motors Corp, including $1 billion for GM to help its financing affiliate GMAC reorganize as a bank holding company; a $4 billion loan for Chrysler LLC; a $5 billion direct investment in GMAC; and a $1.5 billion loan for Chrysler Financial. GM could also qualify for a further loan of $4 billion in March.
— $20 billion pledged to cover potential losses for a Federal Reserve program aimed at improving consumer access to credit.
(For details on money already disbursed and recipients, see: here)
Compiled by Reuters Washington bureau; editing by Gary Crosse