The bank said on Monday that it had set aside an additional $800 million to cover potential fines, settlements and other expenses related to the investigation, bringing the total earmarked amount to $1.5 billion.
Ms. Ricci said he cut $477 million from more than 2,300 projects for which Congress had earmarked specific amounts.
Commerzbank will take the hit on first losses on these assets of up to €275m, but has put another €975m into the vehicle to cover additional losses and earmarked this amount as a contingent payment to Allianz.
The study-group report also recommended that the Board of Education allocate funds to the districts in the form of block grants, instead of earmarking specific amounts for specific programs.
The state has resumed its leading role in the promotion of research in science and technology, earmarking substantial amounts to pay teachers and researchers in the public university system, which in the 20th century trained the five Argentinian citizens who went on to become Nobel prizewinners.
While earmarks amount to a trickle in the government's flood of red ink — slightly more than three-tenths of 1 percent of federal spending — most of that money would still be expended by federal agencies in the absence of earmarks but without specific directions from Congress.
The 2006 transportation bill had over 3,000 earmarks amounting to $23 billion but President Bush approved it.
President Reagan enforced the discipline by vetoing a transportation bill with over a hundred earmarks amounting to $1 billion.
More important, Obama made the case Friday night that earmarks amount to $18 billion a year, less than two months of the Iraq war, and a puny amount compared to the total budget, let alone the $700 billion figure tossed around as the cost of this week's bailout.
Its chief executive, Charles Drew, argues that the amounts earmarked for moving such hard cases off sickness benefits are too low to cover the kind of long-term rehabilitation required.
