Citigroup
Citigroup was among the eight large U.S. banks to receive the Treasury Department's initial round of capital investments -- money described by Treasury officials not as a bailout, but rather as funds to help bolster "healthy" banks in tough times. But in November of 2008, with its stock price spiraling downward, Citigroup received additional government aid.
That $50 billion in aid came mostly in the form of large capital investments, but also through government guarantees to limit losses from a $301 billion pool of toxic assets. Treasury made those guarantees alongside the Fed and FDIC. In addition to the Treasury's $5 billion commitment, the FDIC committed $10 billion and the Federal Reserve up to about $220 billion.
On Dec. 23, 2009, the Treasury and Citi terminated that agreement. Citi also repaid $20 billion. $25 billion in aid remained outstanding. The Treasury converted that amount into Citi common stock, and sold the last portion in December of 2010.
Additional Resources:
Summary of Terms of Loss Sharing Program
Securities Purchase Agreement (1/15/09)
| Date | Type | Amount | Program | Description |
|---|---|---|---|---|
| 02/08/2013 | Dividend | $402,300 | AGP |
Dividend - Cumulative
|
| 02/08/2013 | Proceeds | $894,000,000 | AGP |
Proceeds from sale of trust preferred securities
On 12/28/2012, as contemplated by the Termination Agreement and the Letter Agreement dated 12/23/2009, between Treasury and the Federal Deposit Insurance Corporation (FDIC), Treasury received from the FDIC, Citigroup Inc. trust preferred securities in aggregate liquidation preference equal to $800 million and approximately $183 million in dividend and interest payments from those securities. On 2/4/2013, Treasury exchanged $800 million in Citigroup Capital XXXIII Trust Preferred Securities (TruPs) for $894 million in Citigroup subordinated notes pursuant to an agreement between Citigroup and Treasury executed on 2/4/2013. Accrued interest on the TruPs was received at the time of the exchange. On 2/8/2013, Treasury completed the sale of its Citigroup subordinated notes for $894 million plus accrued interest, pursuant to an underwriting agreement executed on 2/8/2012.
|
| 02/04/2013 | Dividend | $711,111 | AGP |
Dividend - Cumulative
|
| 01/30/2013 | Dividend | $16,000,000 | AGP |
Dividend - Cumulative
|
| 12/28/2012 | Dividend | $182,754,093 | AGP |
Dividend - Cumulative
|
| 01/25/2011 | Warrant | $190,386,428 | TIP |
Warrant Proceeds
|
| 01/25/2011 | Warrant | $67,197,045 | AGP |
Warrant Proceeds
|
| 01/25/2011 | Warrant | $54,621,849 | CPP |
Warrant Proceeds
|
| 12/06/2010 | Proceeds | $6,852,354,471 | CPP |
Revenue from Sale of Stock
|
| 12/06/2010 | Refund | $3,663,368,619 | CPP |
Revenue from Sale of Stock
|
| 12/06/2010 | Refund | $4,967,921,811 | CPP |
Revenue from Sale of Stock
|
| 10/05/2010 | Dividend | $2,947,875 | AGP |
Dividend - Cumulative
|
| 09/30/2010 | Refund | $5,863,489,587 | CPP |
Revenue from Sale of Stock
|
| 09/30/2010 | Proceeds | $2,246,000,000 | AGP |
Proceeds from Sale of Trust Preferred Securities
These proceeds came from a secondary offering of all Citigroup trust preferred securities received pursuant to the Asset Guarantee Program. The entirety of Treasuryâs proceeds from this sale represents a profit to taxpayers, because Treasury did not incur any losses on the Citigroup assets it guaranteed in exchange for these TruPS®.
|
| 09/29/2010 | Dividend | $29,290,222 | AGP |
Dividend - Cumulative
|
| 07/30/2010 | Dividend | $44,680,000 | AGP |
Dividends payment
|
| 06/30/2010 | Refund | $4,322,726,825 | CPP |
Revenue from Sale of Stock
This revenue comes from Treasury's sale of a portion of its stake in Citigroup.
|
| 05/26/2010 | Refund | $6,182,493,158 | CPP |
Revenue from Sale of Stock
This revenue comes from Treasury's sale of a portion of its stake in Citigroup.
|
| 04/30/2010 | Dividend | $44,680,000 | AGP |
Dividends payment
|
| 02/01/2010 | Dividend | $44,680,000 | AGP |
Dividends payment
|
| 12/23/2009 | Refund | $20,000,000,000 | TIP |
Partial Repayment
|
| 12/23/2009 | Dividend | $235,555,556 | TIP |
Dividend Payment
|
| 12/23/2009 | Dividend | $21,200,000 | AGP |
Dividend Payment
|
| 10/30/2009 | Dividend | $400,000,000 | TIP |
Dividend Paid
|
| 10/30/2009 | Dividend | $80,680,000 | AGP |
Dividend Paid
|
| 07/30/2009 | Dividend | $67,233,333 | AGP |
Dividend Paid
|
| 07/30/2009 | Dividend | $333,333,333 | TIP |
Dividend Paid
|
| 07/30/2009 | Dividend | $130,208,333 | CPP |
Dividend Paid
|
| 07/23/2009 | Dividend | $118,055,556 | CPP |
Dividend Paid
|
| 05/31/2009 | Dividend | $684,027,778 | CPP |
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
|
| 05/31/2009 | Dividend | $600,000,000 | TIP |
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
|
| 05/31/2009 | Dividend | $107,573,333 | AGP |
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
|
| 12/31/2008 | Purchase | $20,000,000,000 | TIP |
Purchase - Preferred Stock w/ Warrants
|
| 10/28/2008 | Purchase | $25,000,000,000 | CPP |
Purchase - Preferred Stock w/ Warrants
|