ABC News' Survey of 16 TARP Banks

Below are summaries of statements from 16 of the banks that received TARP (Troubled Asset Relief Program) funds that ABC News surveyed.

Each bank was asked:

How has your firm used the TARP money to date?

What is the total amount your firm has decided to allocate to bonus and incentive pay this year? How does it compare to the 2007 bonus/incentive pool?

Citigroup ($25 billion)

Will help expand the flow of credit in the U.S. economy.

Formed a Special Committee made up of senior executives responsible for overseeing, approving and monitoring how the TARP funds are used.

Continues to make targeted consumer/commercial loans and is focusing on helping eligible, distressed borrowers stay current in their credit card payments and to stay in their homes whenever possible.

Citi's board of directors will decide about the structure and level of compensation after the end of the year.

Will not use TARP funding for compensation.

JPMorganChase ($25 billion)

Using TARP funding to date to support our consumer, commercial, municipal and nonprofit clients.

Incentive compensation not yet allocated.

Wells Fargo ($25 billion)

Scheduled to release our fourth-quarter earnings in January 2009 and cannot provide any forward-looking guidance on lending for this quarter.

Intends to use the Capital Purchase Program funds to make more loans to credit-worthy customers and find solutions for our mortgage customers who are late on their payments or who face foreclosure.

Capital Purchase Program funds will not be spent on executive compensation. Wells Fargo doesn't need the government investment to pay for bonuses or compensation. Per usual, it's up to our board of directors to decide about annual bonuses.

Bank of America ($15 billion)

Added TARP money to general capital in order to make more loans.

Have reduced the incentive targets by more than half. Final awards have not been determined.

Goldman Sachs ($10 billion)

Goldman Sachs has used its capital, which includes the TARP funds, to promote client activity in the capital markets.

Goldman Sachs' seven most senior executives have decided to forgo bonus payments for fiscal year 2008.

We will announce our fiscal 2008 results next week. We will also announce the size of our firmwide compensation pool for the full year. That compensation pool includes both salaries and bonuses. Employee compensation will be down dramatically from last year.

Morgan Stanley ($10 billion)

Lending is a big part of how we are using TARP funds.

We took our bonus pool down 50% from 2007, that's over and above the decline in revenues, which were only down 12% for the year.

Tarp money doesn't go into bonuses. Tarp money goes into a capital account, while compensation is paid out of net revenues. We had $24.7 billion in net revenues in 2008.

Compensation to revenue ratio was 46.5% in 2008.

"Discretionary bonuses are typically a part of compensation, certainly not the majority."

It cites a $17 billion loan to Verizon Wireless.

U.S. Bancorp ($6.599 billion)

Has not yet used TARP funds.

Intends to use TARP funds to continue lending growth, pursue short-term debt reduction and evaluate additional investment opportunities for long-term shareholder benefit.

The bonus and incentive decisions are made in January, following the final year-end performance results and comparisons to the stated plan objectives and peer group performance.

Regions Financial Corp. ($3.5 billion)

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