TARP to cost $33B, CBO says - FINANCIAL-24 - FINANCIAL-24, we has prepared this article well for you to read and retrieve information in it. Okay, happy reading.

TARP to cost $33B, CBO says - FINANCIAL-24

By J. Preston Carter, J.D., LL.M.

The Troubled Asset Relief Program will cost the federal government $33 billion, the Congressional Budget Office estimates. The CBO states that $445 billion of the initially authorized $700 billion will be disbursed through TARP, including $438 billion that has already been disbursed and $8 billion in additional projected disbursements.

According to the Report on the Troubled Asset Relief Program—June 2017, the estimated cost of TARP stems largely from assistance to American International Group, aid to the automotive industry, and ongoing grant programs aimed at avoiding foreclosures on home mortgages. Taken together, it states, other transactions with financial institutions have yielded a net gain to the federal government, in the CBO’s estimation. All of TARP’s future disbursements are expected to occur in its mortgage programs as grants to borrowers, servicers, investors, and state housing finance agencies.

In its March 2016 report, the CBO projected that TARP would cost $30 billion over its lifetime. Since the publication of that report, the estimated cost has risen by about $3 billion, primarily because of the increase to CBO’s estimate of outlays for the mortgage program

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