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Follow the money: Bailout tracker

Troubled ASSET RELIEF PROGRAM

Financial rescue plan aimed at restoring liquidity to the financial markets





Program

Committed

Invested

Description

American International Group

$70 billion

$69.8 billion

$40 billion in preferred shares were converted to so-called non-cumulative shares that more closely resemble common stock. Treasury later offered another $30 billion in preferred shares for up to 5 years, in return for a 10% dividend.

Asset Guarantee Program

Citigroup

Bank of America

$12.5 billion

$5 billion

Funds set aside to backstop potential losses to government from Citigroup and Bank of America loans.

Auto Supplier Support Program

GM Supplier Receivables

(paid back)

Chrysler Receivables

$5 billion

$3.5 billion

($140 million)

$1.5 billion

$3.5 billion

$2.5 billion

($140 million)

$1 billion

Program to help stabilize auto suppliers by guaranteeing debt owed to them for shipped products, and providing financing to continue operations.

Automotive Industry Financing Program

General Motors

(paid back)

Chrysler

(paid back)

GMAC

Chrysler Financial

(paid back)

$80.1 billion$49.9 billion

($361 million)

$15.2 billion

($280 million)

$13.5 billion

$1.5 billion

($1.5 billion)

$77.6 billion$49.9 billion

($361 million)

$12.8 billion

($280 million)

$13.4 billion

$1.5 billion

($1.5 billion)

Program that provides capital on a case-by-case basis to systemically significant auto and auto-financing companies that are at substantial risk of failure.

Capital Purchase Program

$218 billion

($96.2 billion)

$204.7 billion

($96.2 billion)

Preferred investments in banks to prop up capital reserves and encourage lending, in return for dividend payments and stricter executive compensation requirements.

Consumer and Business Lending Initiative

TALF investment

Small business loan program

TALF loss provisions

$70 billion$20 billion

$15 billion

$35 billion

$20 billion

Programs to support private lending purchases of toxic assets and backing SBA loans. Also sets aside funds to backstop potential losses to government from purchases of mortgage-backed securities and other securities backed by consumer loans.

Making Home Affordable

$50 billion

$27.4 billion

Multipronged foreclosure prevention plan to help as many as 9 million borrowers by modifying or refinancing loans.

Public-Private Investment Program

$100 billion

$26.7 billion

Taxpayer funds used in partnership with private investment that will buy up at least $500 billion of toxic assets from financial institutions.

Targeted Investment Program

Citigroup

(paid back)

Bank of America

$40 billion

$20 billion

($20 billion)

$20 billion

$40 billion

$20 billion

($20 billion)

$20 billion

Emergency funding, in addition to previous $25 billion capital investments, for Citigroup and Bank of America



FEDERAL RESERVE RESCUE EFFORTS

Financial rescue plan aimed at restoring liquidity to the financial markets.

Program

Committed

Invested

Description

Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility

Unlimited

$0 million



Financing to banks for purchases of three-month asset-backed commercial paper from money market mutual funds to promote money market liquidity.

Bank of America loan-loss backstop

$97 billion

$0



Funds set aside to insure against bank's potential losses from Merrill Lynch merger.

Bear Stearns bailout

$29 billion

$26.3 billion

Program to guarantee potential losses on Bear Stearns' portfolio; smoothed the way for JPMorgan Chase to buy the failed investment bank.





Citigroup loan-loss backstop

$220.4 billion

$0

Funds set aside to insure against bank's potential losses from mortgage-backed securities investments.

Commercial Paper Funding Facility

$1.8 trillion

$14.3 billion

Purchases of short-term corporate debt aimed at boosting the struggling market and providing critical three-month financing to businesses.





Foreign exchange dollar swaps

Unlimited

$29.1 billion

Exchange of dollars to 13 foreign central banks for collateral. Aim is to provide liquidity to foreign financial institutions.







GSE debt purchases

$200 billion

$149.7 billion

Program to buy debt issued by Fannie Mae and Freddie Mac. Aim is to reduce rates on home loans.







GSE mortgage-backed securities purchases

$1.25 trillion

$775.6 billion

Program to buy mortgage-backed securities held by Fannie Mae and Freddie Mac. Aim is to reduce rates on home loans.

Money Market Investor Funding Facility

$600 billion

$0

Programs to help money market funds by lending to funds directly.

Primary Dealer Credit Facility

n/a

$0

Long-time lending facility for commercial banks that was opened to investment banks for first time in March 2008.

Term Asset-backed securities Loan Facility

$1 trillion

$43.8 billion

Program to buy consumer loan-backed securities. Aim is to revive the securitization market for consumer loans like credit cards and auto loans.







Term Auction Facility

$500 billion

$109.5 billion

Lending program that allows commercial banks to unload hard-to-sell assets, including mortgage-backed securities: Fed takes assets as collateral and banks get cash.







Term Securities Lending Facility

$250 billion

$0 billion

Federal Reserve facility that loans Treasurys to banks against hard-to-sell collateral like mortgage-backed securities.

U.S. government bond purchases

$300 billion

$295.3 billion

Federal Reserve will buy up to $300 billion of U.S. debt to support Treasury market and help keep interest rates down for consumer loans.

Federal stimulus programs

Programs designed to save or create jobs and jumpstart the economy from recession.

Program

Committed

Invested

Description

Economic Stimulus Act of 2008

Rebates for individuals

Tax breaks for businesses



$168 billion



$168 billion



Refundable tax rebates of up to $600 for individual filers and $1,200 for couples in effort to boost the economy. Businesses also received tax breaks.





Unemployment benefit extension

$8 billion

$8 billion

Federal funds to extend benefits for the unemployed.





Student loan guarantees

$195 billion

$32.6 billion

Program to purchase federal student loans from private lenders. Aim is to provide financing to companies that provide student loans.

American Recovery and Reinvestment Act



$787.2 billion$288 billion

$499.2 billion





$358.2 billion$62.5 billion

$295.6 billion



Infrastructure spending, funding for states, help for the needy and tax cuts for individuals and businesses to stimulate the economy.





Advanced Technology Vehicles Manufacturing program

$25 billion

$8 billion

Energy Department loans to help auto manufacturers and parts suppliers create new fuel-efficient vehicles. The funds are awarded through a competitive process to companies that can increase fuel standards at least 25% beyond 2005 levels.



Car Allowance Rebate System (Cash for Clunkers)

$3 billion

$3 billion

Rebate program that gives car buyers up to $4,500 for trading in qualifying gas-guzzling vehicles if they're buying more fuel efficient cars.



American International Group

Multifaceted bailout to help insurer through restructuring, minimize the need to post collateral and get rid of toxic assets

Program

Committed

Invested

Description

Asset purchases

Collateralized debt obligation purchases

Mortgage-backed securities purchases

$52.5 billion

$30 billion

$22.5 billion

$38.6 billion

$22.9 billion

$15.7 billion

$30 billion from New York Fed for purchasing clients collateralized debt obligations and $22.5 billion for purchasing clients mortgage-backed securities.

Bridge loan

$25 billion

$44 billion

Loan to be reduced from $60 billion to $25 billion as government takes shares in AIG subsidiaries and receives cash flows from life insurance policies. AIG must pay 3% plus 3-month Libor rate to government in interest on the 5-year loan.

Government stakes in subsidiaries

$26 billion

$0

Government to hold preferred interest in entities holding all the common stock of American Life Insurance Company and American International Assurance Company, two life insurance holding company subsidiaries of AIG.

TARP investment



$70 billion



$44.8 billion



$40 billion in preferred shares were converted to so-called non-cumulative shares that more closely resemble common stock. Treasury later offered another $30 billion in preferred shares for up to 5 years, in return for a 10% dividend.

Other

$8.5 billion

$0

Government giving AIG $8.5 billion and, in exchange, is receiving cash streams from the premiums of blocks of life insurance policies.

FDIC bank takeovers

Cost to FDIC fund that insures losses depositors suffer when a bank fails.

Other financial initiatives

Other programs designed to rescue the financial sector

Program

Committed

Invested

Description

Credit union deposit insurance guarantees

$80 billion

$0

Temporary guarantee of all corporate credit union deposits above former $250,000 limit.

Money market guarantee program

$50 billion

$0

Treasury program to help money market funds by insuring against losses.

NCUA bailout of U.S. Central and WesCorp credit unions

$57 billion

$57 billion

Cost to NCUA credit unions, with backing of government, to place two troubled credit unions into conservatorship

U.S. Central Federal Credit Union investment

$1 billion

$1 billion

Cost to NCUA credit unions, with backing of government, to help troubled credit union cover anticipated losses on asset-backed securities.

Temporary Liquidity Guarantee Program

$1.5 trillion

$308.4 billion

Guarantees on newly issued bank bonds backed with assets on company balance sheets with maturities of more up to ten years. Aim is to restore liquidity to the corporate bond market and provide long-term financing to banks.

Other housing initiatives

Other programs designed to rescue the housing market and prevent foreclosures

Program

Committed

Invested

Description

Fannie Mae and Freddie Mac bailout



$400 billion$200 billion

$200 billion

$110.6 billion$59.9 billion

$50.7 billion

Cost to the government of taking the mortgage finance companies into conservatorship.





FHA housing rescue

$320 billion

$20 billion

Funding set aside for insurance of new 30-year fixed-rate mortgages for at-risk borrowers, tax credits for first-time home buyers and assistance to states and municipalities.







Making Home Affordable investment

$25 billion

$0

$20 billion from GSEs and $5 billion from HUD to help Treasury launch its $75 billion multipronged foreclosure prevention plan.

Sources: Federal Reserve, Treasury, FDIC, CBO, White House



Note: Figures as of November 16, 2009



http://money.cnn.com/news/storysupplement/economy/bailouttracker/index.html

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