Citigroup will make TARP progress through sales

Citigroup Inc. on Tuesday outlined the progress it's making toward repaying the U.S. government under the Troubled Asset Relief Program.

Citi /quotes/comstock/13*!c/quotes/nls/c (C 3.77, -0.17, -4.32%) and its chief executive, Vikram Pandit, cited $6 billion in new initiatives the bank made during the quarter, an amount that brought to $15.1 billion the total cash funneled from TARP through Citi to borrowers. That's nearly one-third of the $50.8 billion Citi received. See report.

Citi's is a quaint way to measure progress. The idea that Citigroup should be flushing government cash into the economy via loans harks back to the early days of TARP in October, when the program was seen not only as a stabilizing vehicle but a kind of bank-administered stimulus from the Treasury Department.

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- Posted: 2009-08-11 09:45:17

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