Notice is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Asset Guarantee Program

Policy Area: 
Economic Target: 
Action Type: 
Maximum Amount: 
$12.50 billion
Deficit Impact: 
-$2.25 billion

In addition to purchasing Bank of America and Citigroup stock, the TARP program participated in a multi-agency guarantee, in conjunction with the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC), of around $425 billion in Citigroup and Bank of America assets. The terms of the guarantees stipulate that Citigroup and Bank of America would cover all portfolio losses up to $29 billion and $10 billion , respectively, while 90 percent of additional losses from both companies would be covered by the federal government.

See the companion guarantess of Bank of America assets by the Fed and FDIC.

See the companion guarantees of Citigroup assets by the Fed and FDIC.



Maximum amount figure represents Treasury's share of total assets under guarantee. Deficit impact based on amount spent.

Deficit impact is derived from Treasury's reporting of TARP transactions.

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