On Tuesday, Citigroup, which recently announced the successful completion of its share exchanges with public and private shareholders and the U.S. government, announced the release of its TARP Progress Report for the second quarter of 2009. The report details Citigroup’s $50.8 billion in TARP initiatives as of the second quarter. New initiatives supported by TARP capital include $4 billion for Citigroup’s Municipal Securities Division to provide municipal letters of credit and $2 billion for Citigroup’s Global Securitized Markets group to “provide financing to loan originators via ‘warehouse’ lending facilities.” Citigroup also said that it extended $129.7 billion in new credit to U.S. consumers and businesses during the second quarter.