Citigroup’s Special TARP Committee released its first report, showcasing the “first stage of primary lending and secondary market activities directly linked” to its TARP money, which totals $36.5 billion. The bank said new lending amounted to $75 billion in the fourth quarter.
Here’s the TARP breakdown: $25.7 billion for mortgage loans to homebuyers and the “purchase of prime residential mortgages and mortgage-backed in the secondary market;” $1.5 billion in consumer loans; $1 billion “for tailored loans to people and businesses” with liquidity trouble; $1 billion in student loans through the Federal Family Education Loan Program; $5.8 billion in credit card lending; and $1.5 billion in commercial loan securitizations.
