The figures, from banks' own statements and analyst reports, indicate the requests are closing in on the US$250 billion the Treasury set aside from the US$700 billion fund to purchase stock in banks.

Analysts at Keefe, Bruyette & Woods estimated that 62 banks have received full or preliminary approval from the Treasury for US$173 billion from the Troubled Asset Relief Program. The government said Monday that American International Group Inc. also would receive US$40 billion from the program. Another 48 banks have applied for about US$6.5 billion, according to the Keefe, Bruyette & Woods report. Several banks that have filed applications said they haven't yet decided whether to accept any funds.

The tally doesn't include requests from four life insurance companies that are seeking regulatory approval to purchase savings and loans in order to become eligible for government funds.

One of those companies, Hartford Financial Services Group Inc., said it would be eligible to receive between US$1.1 billion and US$3.4 billion if its purchase of Federal Trust Bank is approved. Generally, only banks and savings and loans are eligible for direct investment from the TARP. AIG is the only nonbank company to receive such funds so far.

The total also doesn't include American Express Co., which said Monday it has restructured as a bank holding company, reportedly to seek up to US$3.4 billion in funding.

Publicly-held banks were required to file their applications by Friday. Private banks have been given an extended, though unspecified, deadline. Industry sources expect a flurry of last-minute applications will be filed Friday.