Financial banks keep mum on how they use TARP cash.

At least one of the banks that received billions of dollars in taxpayer bailout cash appear to have used some of the money to pay executive bonuses, ABC News has learned.

Other Financial Banks Including Goldman Sachs and CitiGroup Keep Mum on How They Are Using TARP Cash

Banks that were rescued with billions of dollars in public funds have, in most cases, refused to provide specifics about how they have used or intend to use the money.


ABC News asked 16 of the banks that have received money from the Treasury Department's $700 billion Trouble Asset Relief Program the same two questions: How has your financial institution used the money, and how much has your financial institution allocated to bonuses and incentives this year?

To read the banks' responses, click here.

Goldman Sachs reported Tuesday that it paid $10.93 billion in compensation for the year, which includes salaries and bonuses, payroll taxes and benefits. That is down 46 percent from a year ago. Goldman Sachs received $10 billion from the Treasury.

"Bonuses across Goldman Sachs will be down significantly this year," a bank representative told ABC News. The spokesman refused to disclose the size of the bonus pool or how much of the compensation fund of $10.93 billion was planned for bonuses.

"We do not break down the components of compensation; however, most of that number was not bonuses," he said. Goldman Sachs added, "TARP money is not being paid to employee compensation. It's been and will continue to be used to facilitate client activity in the capital markets." Read on.

Also this from ABC News. Click on the link to watch video: Goldman Sachs using bailout funds for employee bonuses