Purchases Under TARP - Troubled Asset Relief Program

3 January 2009
The GAO reported in December 2008 that the U.S. Treasury Department had provided more than $150 billion in capital to 52 financial institutions as of November 25, 2008.

The GAO was critical of Treasury, noting that "Treasury has yet to address a number of critical issues, including determining how it will ensure that CPP is achieving its intended goals and monitoring compliance with limitations on executive compensation and dividend payments."

This capital infusion is part of the Troubled Asset Relief Program (TARP). There have been three infusions of capital.

In one instance, the Treasury infusion was more than an order of magnitude greater than corporate assets: BB&T Corp. (Winston-Salem, N.C.) received $3.134 billion from Treasury in November when its September assets totaled only $137 million.

Grand Total:
Capital purchased by Treasury: $151.472 billion
Total assets, September 2008: $11.485 trillion


Purchases on October 28, 2008

1. Bank of America Corp. (Charlotte, NC)
   Capital purchased by Treasury: $15 million
   Total assets, September 2008: $1.831 billion
2. Bank of New York Mellon Corp. (New York City, NY)
   3 million 268 million
   Citigroup, Inc. (New York City, NY)
   Capital purchased by Treasury: $25 million
   Total assets, September 2008: $2.050 billion
3. Goldman Sachs Group, Inc. (New York City, NY)
   Capital purchased by Treasury: $10 million
   Total assets, September 2008: $1.082 billion
4. JPMorgan Chase & Co. (New York City, NY)
   Capital purchased by Treasury: $25 million
   Total assets, September 2008: $2.251 billion
5. Morgan Stanley (New York City, NY)
   Capital purchased by Treasury: $10 million
   Total assets, September 2008: $987 million
   State Street Corp. (Boston, MA)
   Capital purchased by Treasury: $2 million
   Total assets, September 2008: $286 million
6. Wells Fargo & Co. (San Francisco, CA)
   Capital purchased by Treasury: $25 million
   Total assets, September 2008: $1.371 billion

Subtotal:
Capital purchased by Treasury: $115 billion
Total assets, September 2008: $10.126 trillion


See purchases on 14 November and purchases on 21 November.