Tuesday, June 16, 2009

Crazy and Committed: "$13.9 Trillion Total Maximum Government Support Announced"

An amazing post from Calculated Risk:

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 2008Subsequent 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
Maximum capacity of support programs announced through first quarter 200922


Go to Calculated Risk for the footnotes and some sharp comments.