UPDATE:Treasury Provides GM $2 Billion; Announces TARP Repayments

The U.S. Treasury Department has provided General Motors Corp. (GM) $2 billion in working capital and several more banks have repaid hundreds of millions of dollars in government aid, according to a new transaction report Treasury released Friday.

A Treasury official confirmed a watchdog report released earlier this week that said the federal government is considering giving GM up to $5 billion and Chrysler LLC up to $500 million in short-term aid.

Friday's Treasury report shows that Treasury has already provided GM $2 billion of that aid as the troubled auto maker works to restructure.

Meanwhile, Treasury announced that four additional banks have returned a total of $569.2 million in TARP funds to the Treasury Department. The banks include TCF Financial Corp. (TCB), FirstMerit Corp. (FMER), Independent Bank Corp. (INDB), and First ULB Corp. First ULB paid back their warrants. The other three banks refunded their investments.

Last month, five other banks - Iberiabank Corp. (IBKC), Bank of Marin Bancorp (BMRC), Old National Bancorp (ONB), Signature Bank (SBNY) and Central Financial Holdings - repaid a total of $353 million.

-By Maya Jackson Randall, Dow Jones Newswires; 202-862-9255, [e-mail]