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Treasury Notes

 TARP: By the Numbers

By: Steve Adamske
3/11/2011

You may have seen a lot of news stories recently about Treasury’s efforts to wind down TARP and exit its investments in private companies. And most of those stories include a sea of numbers about the program: How much it’s expected to cost. How much money has gone out the door. How much has been repaid. And many others.

If you don’t follow TARP on a day-to-day basis, it might be hard to keep all of them in perspective. That’s why we put together the following chart that boils down some of the key facts about TARP, by the numbers.

 
TARP: BY THE NUMBERS
 
70 Percent:                 Percentage of TARP disbursements ($411 billion) taxpayers have recovered ($287 billion) to date, including repayments, dividends, warrant sales, and other income.
 
$48 Billion:                 Estimated lifetime cost of TARP (President’s FY2012 Budget), assuming all housing funds are spent
 
$28 Billion:                 Estimated cost when also including AIG common stock held outside of
TARP (President’s FY2012 Budget)
 
8.5 Million:                 Additional jobs that would have been lost without the federal
government’s response to the financial crisis, including TARP and the American Reinvestment and Recovery Act – according to a study by economists Marc Zandi and Alan Blinder (How the Great Recession Was Brought to an End, July 2010)      
 
88,600:                        Number of jobs the auto industry has added since GM and Chrysler emerged from bankruptcy – the strongest job growth in that industry in more than a decade.
 
$13.5 Billion:              Taxpayer proceeds from the November 2010 GM IPO, which cut Treasury’s common stock stake in that company nearly in half
 
$28.72:                        Break-even price for Treasury on its AIG common stock stake
 
$245 Billion:               Amount that TARP has invested in banks           
 
$243 Billion:               Repayments and other income from banks to date
 
$20 Billion:                 Estimated lifetime profit expected on TARP investments in banks
 
$12.3 Billion:              Cumulative profit to date on Treasury’s TARP investment in Citigroup
 
607,607:                      Number of homeowners that have received permanent mortgage modifications through TARP’s Home Affordable Modification Program SM (HAMP SM)
                                                            
27,957:                        New permanent HAMP modifications in January 2011
 
$475 Billion:               Maximum authorized TARP disbursements, which was reduced from $700 billion under the Dodd-Frank Wall Street Reform and Consumer Protection Act
 
Steve Adamske is Deputy Assistant Secretary of the Treasury for Public Affairs.
Posted in:  TARP
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