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TREASURY RECEIVES FIRST QUARTERLY REPAYMENT FROM GENERAL MOTORS
TARP Repayments Now Total $119 billion Across Program
WASHINGTON - Today, the U.S. Department of the Treasury received the first quarterly $1 billion repayment from General Motors as part of the company's accelerated plan to exit the U.S. Government's investments under the Troubled Asset Relief Program (TARP). The total amount of repaid TARP funds is now $119 billion and an additional $45 billion in repayments is expected next week.
The Administration's Automotive Industry Financing Program (AIFP) prevented a significant disruption of the American automotive industry, which would have posed a systemic risk to financial market stability and caused broader economic harm. After emerging from bankruptcy in July, General Motors is on a path to stability and poised to return additional taxpayer investments.
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