Government Support for Financial Assets and Liabilities Announced in 2008 and Soon Thereafter ($ in billions) | |||
|---|---|---|---|
| Important note: Amounts are gross loans, asset and liability guarantees and asset purchases, do not represent net cost to taxpayers, do not reflect contributions of private capital expected to accompany some programs, and are announced maximum program limits so that actual support may fall well short of these levels | |||
| Year-end 2007 | Year-end 2008 | Subsequent or Announced Capacity If Different | |
| Treasury Programs | |||
| TARP investments1 | $0 | $300 | $700 |
| Funding GSE conservatorships2 | $0 | $200 | $400 |
| Guarantee money funds3 | $0 | $3,200 | |
| Federal Reserve Programs | |||
| Term Auction Facility (TAF)4 | $40 | $450 | $900 |
| Primary Credit5 | $6 | $94 | |
| Commercial Paper Funding Facility (CPFF)6 | $0 | $334 | $1,800 |
| Primary Dealer Credit Facility (PDCF)5 | $0 | $37 | |
| Single Tranche Repurchase Agreements7 | $0 | $80 | |
| Agency direct obligation purchase program8 | $0 | $15 | $200 |
| Agency MBS program8 | $0 | $0 | $1,250 |
| Asset-backed Commercial Paper Money Market Mutual Fund | |||
| Liquidity Facility (AMLF)9 | $0 | $24 | |
| Maiden Lane LLC (Bear Stearns)9 | $0 | $27 | |
| AIG (direct credit)10 | $0 | $39 | $60 |
| Maiden Lane II (AIG)5 | $0 | $20 | |
| Maiden Lane III (AIG)5 | $0 | $27 | |
| Reciprocal currency swaps11 | $14 | $554 | |
| Term securities lending facility (TSLF) and TSLF options program(TOP)12 | $0 | $173 | $250 |
| Term Asset-Backed Securities Loan Facility (TALF)13 | $0 | $0 | $1,000 |
| Money Market Investor Funding Facility (MMIFF)14 | $0 | $0 | $600 |
| Treasury Purchase Program (TPP)15 | $0 | $0 | $300 |
| FDIC Programs | |||
| Insured non-interest bearing transactions accounts16 | $0 | $684 | |
| Temporary Liquidity Guarantee Program (TLGP)17 | $0 | $224 | $940 |
| Joint Programs | |||
| Citi asset guarantee18 | $0 | $306 | |
| Bank of America asset guarantee19 | $0 | $0 | $118 |
| Public-Private Investment Program (PPIP)20 | $0 | $0 | $500 |
| Estimated Reductions to Correct for Double Counting | |||
| TARP allocation to Citi and Bank of America asset guarantee21 | – $13 | ||
| TARP allocation to TALF21 | – $80 | ||
| TARP allocation to PPIP21 | – $75 | ||
| Total Gross Support Extended During 2008 | $6,788 | ||
| Maximum capacity of support programs announced through first quarter 200922 | $13,903 | ||
Go to Calculated Risk for the footnotes and some sharp comments.
