Troubled Asset Relief Program - Wikipedia, the free encyclopedia
As of February 9, 2009, $388 billion had been allotted, and $296 billion spent, according to the Committee for a Responsible Federal Budget.
The Congressional Budget Office released a report in January 2009 reviewing the transactions enacted through the TARP.
The CBO found that through December 31, 2008, transactions under the TARP totaled $247 billion. According to the CBO's report, the Treasury had purchased $178 billion in shares of preferred stock and warrants from 214 U.S. financial institutions through its Capital Purchase Program (CPP). This included the purchase of $40 billion of preferred stock in AIG, $25 billion of preferred stock in Citigroup, and $15 billion of preferred stock in Bank of America. The Treasury also agreed to lend $18.4 billion to General Motors and Chrysler. The Treasury, along with the FDIC and the Federal Reserve, has also agreed to guarantee a $306 billion portfolio of assets owned by Citigroup.[