Emergency Economic Stabilization Act
The TARP
total available
$465Bcommitted
Enacted Oct. 3, 2008Find bailouts in your state:
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
- Our bailout recipient list tracks the companies to which Treasury has committed money.
With the $700 billion authorized by Congress in October 2008 via the Emergency Economic Stabilization Act, the Treasury Department has been doling out the money via an alphabet soup of different programs.
In July 2010, the financial regulation overhaul reduced the amount authorized for TARP to $475 billion.
Below is a breakdown of the money promised or committed through those programs and a plain language description for each.
Go to list of all initiatives and programs
For our blog, resources and more, see our main bailout page.
The following programs fall under this initiative:
Most banks received their money through this program. When the Treasury Department started the Capital Purchase Program in October 2008, Treasury officials insisted that it was not a bailout for... More info...
In mid-December of 2008, the Bush administration stepped in to lend General Motors and Chrysler billions to prevent impending bankruptcy. Subsequently, the Obama administration kept the two companies afloat as... More info...
The sole 'systemically significant' institution to get money through this program is AIG. On four separate occasions, the government offered aid to AIG to keep it from collapsing, rising from... More info...
Both Citigroup and Bank of America received $25 billion under the Capital Purchase Program. In both cases, they received additional aid, but since CPP was notionally for 'healthy' banks, it... More info...
The administration's plan to stem foreclosures provides incentive payments to mortgage servicers, investors and homeowners to promote mortgage loan modifications and other foreclosure alternatives (like short sales). The Treasury has... More info...
Addressing one of the roots of the financial crisis, the hard-to-value mortgages and asset-backed securities on banks' balance sheets, the program sought to jump-start the market for these assets. Under... More info...
The program, announced in March of 2010, was aimed at helping homeowners who are underwater -- they owe more on their mortgage than their house is worth. The homeowner would... More info...
This program will provide up to $7.6 billion to fund "innovative measures" to help families in the states that have been hardest hit by the aftermath of the burst of... More info...
Community Development Capital Initiative
(Cheap Loans for Community Development Banks)
$783M
PromisedThe program was designed to provide cheap financing to Community Development Financial Institutions (CDFI): banks, thrifts or credit unions that operate in markets underserved by traditional financial institutions. The idea... More info...
With auto parts suppliers struggling as much as the auto companies themselves, this program, announced in March 2009, provided guarantees and financing for auto parts suppliers who might otherwise be... More info...
Small Business and Community Lending Initiative
(Program to Ease Small Biz Credit Market)
$368M
PromisedThis "pilot program" involved the purchase of securities guaranteed by the Small Business Administration in order to "ensure that credit flows to entrepreneurs and small business owners." Purchases began in... More info...
The program, a collaboration between the Fed and the Treasury, was designed to provide up to $200 billion in Fed loans to owners of top-rated asset-backed securities. The idea was... More info...
This was another form of bailout for Citigroup and Bank of America. As part of the agreement in late November, 2008 to help Citigroup, the Treasury agreed to backstop a... More info...