Who: Citigroup and Bank of America. What: A second $20B capital injection into each bank (the Targeted Investment Program) plus a government guarantee against losses on a pool of Citigroup's assets (the Asset Guarantee Program).
$45.0B
committed or authorized
$40.0B
paid out
$48.0B
recovered (repayments, dividends, fees)
$8.00B
net profit (Treasury lifetime estimate)
Outcome
Both banks repaid the $40B in December 2009; the government kept guarantee fees and sold warrants.
Legal authority: Emergency Economic Stabilization Act of 2008 (TARP).