By Brian Faler
June 25 (Bloomberg) -- The Treasury Department has about $369 billion in outstanding investments in companies, loans and other types of assistance through its Troubled Asset Relief Program, according to a new report.
The nonpartisan Congressional Budget Office said today those transactions, at current market values, would cost taxpayers about $159 billion. The program, which can back up $699 billion worth of troubled assets, has about $329 billion in remaining authority, part of which has been committed. The report said $142 billion has yet to be allocated.
The program has provided about $21 billion worth of capital purchases to 410 institutions this year, a fraction of the aid provided last year. Between October and December of 2008, during the height of the global financial crisis, the Treasury Department provided $178 billion to 213 institutions, the CBO said.
Most of the new aid has gone to small institutions with relatively few shareholders, the report said.
Earlier this month, 10 major recipients of TARP aid, including JPMorgan Chase, Goldman Sachs, American Express and Morgan Stanley, announced they would repay $68 billion in assistance.
To contact the reporter on this story: Brian Faler in Washington at bfaler@bloomberg.net.
Last Updated: June 25, 2009 22:42 EDT
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