On Monday, Treasury released its most recent transactions report for the period ending September 30, 2010. The report reflects the closing of the Community Development Capital initiative (CDCI); as previously noted, there are now 84 entities receiving $570,073,000 under the CDCI. Eleven of those entities came out of the Capital Purchase Program (CPP); Treasury has completed the previously agreed-upon sale and share exchanges of three additional entities, resulting in a current investment (net of repayments) of $49,574,127,785 under the CPP. Treasury also made additional investments in all 19 of the Hardest Hit Fund agencies; there is now $7.6 billion invested under the program. Finally, four new classes of funds have been added to the Small Business and Community Lending Initiative, for a total of $357,305,594 (subject to adjustment) invested under that program.
Last week, Treasury announced a further sale of Citigroup trust preferred securities, anticipating $2.246 billion in proceeds, as well as the sale of 1.5 billion shares of Citigroup common stock pursuant to the completion of its third trading plan. To date, Treasury has sold approximately 4.1 billion shares of Citigroup common stock for gross proceeds of approximately $16.4 billion. Treasury currently owns approximately 3.6 billion shares of Citigroup common stock, or 12.4% of the outstanding shares. Treasury expects to continue selling its shares in the market in an orderly fashion, after the blackout period set by Citigroup related to its third quarter earnings release ends. Treasury invested a total of $45 billion in Citigroup pursuant to the Troubled Asset Relief Program (TARP). To date, the combined proceeds to Treasury from the sale of the trust preferred securities and Citigroup common stock, together with Citigroup repayments, dividends and other distributions received to date, total $41.6 billion.