The U.S. government has launched an unprecedented array of actions to salvage the economy and stabilize the financial sector that could put up to $10.903 trillion of taxpayers' money at risk.
However, much less has been disbursed and a considerable amount of those funds could be recouped.
Following is a rundown of the total amount of known public funds that could be at risk -- either spent, loaned, allocated or pledged, based on the programs' upper limits. Some programs have no specified limit; in these instances, the total reflects amounts actually pledged, loaned or disbursed.
The total does not include a potential $750 billion in new aid to banks that was in President Barack Obama's budget plan on February 26 but not formally requested.
FEDERAL DEPOSIT INSURANCE CORP GUARANTEES
* Up to about $1.9 trillion in Federal Deposit Insurance Corp guarantees for banks, including $1.4 trillion in senior unsecured debt issued by banks and $500 billion in transaction deposit accounts typically used by businesses to pay employees and vendors.
FED SUPPORT FOR MORTGAGE, CONSUMER CREDIT MARKETS
* Up to $1.6 trillion in Fed support for mortgage and consumer credit markets, including purchases of up to $600 billion in debt and mortgage-backed securities issued by government-sponsored enterprises. The Fed is now launching, with U.S. Treasury backing, a $200 billion loan facility to support consumer credit, such as auto, credit card and student loans, that is expected to grow to $1 trillion.
FED COMMERCIAL PAPER FUNDING FACILITY (CPFF)
* Up to about $1.8 trillion in Fed purchases of top-rated U.S. dollar commercial paper under a facility launched in October. The Fed said it does not intend to buy anywhere near this amount, which represents what eligible issuers could sell at up to $1 billion per issuer. As of April 2, the Fed's holdings in this facility were $249.73 billion.
FED DISCOUNT WINDOW LENDING COMMITMENTS
* Unlimited commitments to lend through discount window to banks and broker dealers. Credit extended under these facilities totaled $133.08 billion on April 2.
FED MONEY MARKET INVESTOR FUNDING FACILITY
* Up to $600 billion in Fed purchases of U.S. dollar commercial paper and certificates of deposit under a Money Market Investor Funding Facility. As of April 2, the Fed held nothing in this facility.
FED TERM AUCTION FACILITY LOANS
* Up to $600 billion in Fed Term Auction Facility loans are offered through twice-monthly $150 billion auctions. On April 2, $467.28 billion in TAF credit was outstanding.
FED TERM SECURITIES LENDING FACILITY (TSLF)
* Up to $200 billion in loans to primary dealers for up to 28 days against all investment-grade debt securities as collateral. The Fed plans to auction this amount through seven auctions in April.
FED CURRENCY SWAP LINES
* Unlimited temporary Fed currency swap lines with the European Central Bank and central banks in England, Japan and Switzerland. The Fed also maintains swap lines with 10 other central banks. On April 2, the Fed held $308.79 billion in foreign currency under these agreements.
OBAMA FISCAL STIMULUS PROGRAM
* Obama signed into law on February 17 a $787 billion fiscal stimulus plan, including $287 billion in temporary tax breaks and $500 billion in spending on infrastructure, research facilities, energy projects and aid to states, the unemployed and the poor.
TREASURY TROUBLED ASSET RELIEF PROGRAM (TARP)
* $700 billion for the U.S. Treasury to shore up the financial system: Nearly $200 billion in bank preferred stock investments, $29.8 billion in aid to automakers, their suppliers and their finance companies, and $110 billion in additional rescues for American International Group, Citigroup and Bank of America.
AIG LOAN SUPPORT (NON-TARP)
* In addition to $70 billion in capital investments under TARP, AIG has been granted a $60 billion government credit line and up to $52 billion in loans for assets shifted to the Fed's balance sheet.
TREASURY-LED PUBLIC-PRIVATE INVESTMENT FUND
* The Treasury intends to launch a public-private investment fund that would buy $500 billion to $1 trillion in distressed assets from banks, establishing benchmark prices. Details are still being developed, but officials have said the government would provide loans to private investment funds to buy the assets.
FANNIE MAE/FREDDIE MAC SUPPORT
* Up to $400 billion to backstop Fannie Mae and Freddie Mac. The Treasury will inject up to $200 billion into each institution as needed to maintain a positive net worth. Freddie's capital draw is expected to grow to as much as $49 billion in coming weeks, while Fannie has said it will draw $15.2 billion.
* Expansion of loan portfolios to allow Fannie and Freddie to increase MBS purchases by up to $244 billion since the government took control of them in September 2008.
* The Treasury has directly purchased at least $106.89 billion in Fannie/Freddie mortgage-backed securities since September to aid the housing market. It has pledged to continue these purchases.
* $300 billion for the Federal Housing Administration to refinance failing mortgages into new, reduced-principal loans with a federal guarantee, passed in July 2008.
* $25 billion modification costs for loans held directly by Fannie Mae and Freddie Mac as part of a foreclosure prevention plan that also uses $50 billion in TARP funds.
* $6 billion in grants and stabilization funds to local communities to help them buy and repair homes abandoned due to mortgage foreclosures.
* $1.5 billion in relocation aid for renters displaced by foreclosures.
MONEY MARKET FUND GUARANTEES
* Up to $50 billion from the Great Depression-era Exchange Stabilization Fund to guarantee principal in money market mutual funds to boost confidence in them. The Treasury collects premium payments from participating funds.
BEAR STEARNS SALE SUPPORT
* $29 billion in Fed financing for JPMorgan Chase's government-brokered buyout of Bear Stearns & Co in March. The Fed agreed to take $30 billion in questionable Bear assets as collateral, making JPMorgan liable for the first $1 billion in losses, while agreeing to shoulder any further losses.