With General Motors (GM) reported to be nearing a bankruptcy filing, the U.S. Treasury Department has funded a warranty-guarantee program that would go into effect should the struggling auto maker go into liquidation.

The Treasury on Wednesday provided $360.6 million for the effort through which the U.S. government would guarantee warrantees on new GM vehicles, a report released Friday shows.

Treasury earlier created a separate but similar fund for Chrysler, which already has filed for bankruptcy.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com