Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, February 2, 2011

Treasury Announces the Bank TARP Program Nearing Profitability

Treasury announced that Fifth Third Bancorp of Cincinnati, Ohio has fully repaid its $3.4 billion in outstanding Troubled Asset Relief Program (TARP) funds. With this transaction, total repayments and other income from programs within TARP to provide direct financial support to banks (approximately $243 billion) have nearly surpassed total disbursements under those programs (approximately $245 billion). Treasury currently estimates that bank programs within TARP will ultimately provide a lifetime profit of nearly $20 billion to taxpayers.
Overall, across all TARP programs, – including financial support for banks, the domestic auto industry, and AIG; targeted initiatives to help restart the credit markets; and foreclosure prevention programs – Treasury has disbursed a total of approximately $410 billion. With today’s transactions, total program repayments (approximately $238 billion) and other income (approximately $36 billion) have reached more than $274 billion.

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