| Follow the $8.5 trillion: Breakdown of the government's rescue funds |
Updated 11/25/08 |
|
|---|---|---|
| Federal Reserve Programs | Maximum commitment |
Tapped so far |
| Commercial paper program Buys short-term notes from companies, which use the proceeds to pay bills |
$1.8 trillion | $271 billion |
| Term auction facility Provides a negotiated rate for banks to borrow from the Fed |
$900 billion | $415 billion |
| Other assets |
$606 billion | $606 billion |
| Finance company debt purchases Buys debt issued or backed by government-chartered housing-finance companies including Fannie Mae and Freddie Mac in an effort to reduce their debt costs and thereby lower mortgage rates |
$600 billion | $0 |
| Money market investor funding facility Buys assets from financial companies to bolster money-market mutual funds |
$540 billion | $0 |
| Citigroup bailout The Fed agreed to guarantee $291 billion of Citigroup's toxic assets |
$291 billion | $291 billion |
| Term securities lending Allows financial firms to borrow Treasury bonds in exchange for collateral |
$250 billion | $190 billion |
| Term asset-backed loan facility Lends money to owners of top-rated securities that are backed by school, car, credit-card and small business loans |
$200 billion | $0 |
| Other credit extensions Loan to American International Group |
$123 billion | $87 billion |
| Discount window Lends directly to commercial banks |
$92 billion | $92 billion |
| Commercial paper program 2 Lends to banks so they can buy commercial paper from mutual funds |
$62 billion | $62 billion |
| Discount window 2 Lends directly to all financial firms, including securities firms |
$50 billion | $50 billion |
| Bear Sterns assets The Fed guaranteed $29 billion of the firm's assets when JPMorgan Chase bought it |
$29 billion | $27 billion |
| Overnight loans Makes one-day loans to banks based on collateral |
$10 billion | $10 billion |
| Secondary credit Lends at higher interest rates when collateral is weaker |
$118 million | $118 million |
| Federal Reserve total | $5.5 trillion | $2.1 trillion |
| Federal Deposit Insurance Corp. Programs | Maximum commitment |
Tapped so far |
| Loan guarantees Takes the risk out of bank-to-bank lending |
$1.4 trillion | $0 |
| Guarantee to GE Capital Supports the lending arm of General Electric |
$139 billion | $139 billion |
| Citigroup bailout FDIC agreed to guarantee $10 billion of Citigrouo's toxic assets |
$10 billion | $10 billion |
| Federal Deposit Insurance Corp. total | $1.5 trillion | $149 billion |
| Treasury Department Programs | Maximum commitment |
Tapped so far |
| Troubled Asset Relief Program Approved by Congress |
$700 billion | $375 billion |
| Stimulus package Checks mailed to taxpayers last spring |
$168 billion | $168 billion |
| Treasury Exchange Stabilization Fund Buys and sells short-term notes to moderate fluctuations in foreign currency exchange rates |
$50 billion | $50 billion |
| Tax breaks for banks |
$29 billion | $29 billion |
| Treasury Department total | $1.1 trillion | $597 billion |
| Federal Housing Administration Programs | Maximum commitment |
Tapped so far |
| Hope for Homeowners Provides loan guarantees for struggling mortgage borrowers |
$300 billion | $300 billion |
| Federal Housing Administration total | $300 billion | $300 billion |
| U.S. Government total | $8.5 trillion | $3.2 trillion |
| Sources: Federal Reserve; Federal Deposit Insurance Corporation; Federal Housing Administration; Treasury Department; Bloomberg | ||