TARP Refunds Total $181 Billion Says Treasury

The U.S. Treasury says it has received full repayment on its Troubled Asset Relief Program (TARP) investment in Hartford Financial Services Group, Inc. in the sum of $3.4 billion, as well as a $1 billion repayment from General Motors.

It says TARP repayments now total $181 billion of the $240 billion invested in the banking system at the height of the financial crisis, with private capital replacing public capital in financial institutions.

Treasury currently estimates that its programs aimed at stabilizing the banking system will earn a profit as a result of dividends, interest, early repayments, and the sale of warrants.

Total bank investments of $245 billion in FY2009 that were initially projected to cost $76 billion are now projected to bring a profit.

Treasury says taxpayers have already received $14 billion through just interest and dividends and it says that number could be considerably higher by the end of this year.

(C) NewsRoom 2010