= Members Only Content
Issue of Interest: Economic Stabilization and TARP
ABA Media Contact: Jeff Sigmund
Phone: (202) 663-5439
Email: jsigmund@aba.com Last updated: Feb. 13, 2011
On October 14, 2008, the United States Treasury Department and the Federal Deposit Insurance Corporation each announced steps to further address the issues that confront the banking system. The Treasury Department announced details of its planned equity investments in financial institutions (Capital Purchase Program), while the FDIC announced that it was guaranteeing all newly issued senior unsecured debt (Temporary Liquidity Guarantee Program) by eligible entities issued on or before June 30, 2009.
From the first day Treasury proposed its plan for ridding financial institutions of bad assets (Troubled Asset Relief Program, or TARP), ABA has sought to make sure the plan would be made available to all size banks. ABA also has argued against including bankruptcy mortgage cram-down provisions, and has urged the SEC to recognize that it is near impossible to determine the "fair" value of assets in the current environment.
Background Information
- Banks Remain Committed to Repaying TARP (Oct. 2011)
- Bank Programs Return Significant Profits (Oct. 18, 2011)
- TARP's Bank Programs Profitable (Oct.18, 2011)
- ABA Statement on FDIC DIF Recapitalization Plan (Oct.11, 2011)
- Bank Lending Fact Sheet (Aug. 15, 2011)
- 99 Percent of Bank TARP Paid On-Time, Non-Banks Cause Losses (Oct. 1, 2010)
- Bank-TARP Fact Sheet (July 21, 2010)
- Bank-TARP Programs Will Profit U.S. Taxpayers (May 14, 2010)
- Bank Lending Fact Sheet (May 10, 2010)
- GLBA Helped to Resolve the Credit Crisis (Jan. 25, 2010)
- TARP Facts (Jan. 13, 2010)
- TARP Returns Fact Sheet (Jan. 11, 2010)
- Timeline: financial stabilization events (July 23, 2009)
- Backgrounder: Banks Continue To Lend (Mar. 31, 2009)
- Impact of CPP and Bank Lending (Feb. 9, 2009)
- Comparison of CPP and other TARP Programs (Feb. 4, 2009)
- Banks,Capital and Lending (Feb. 3, 2009)
- Backgrounder: TARP and U.S. Banks (Dec. 29, 2008)
- Are My Trust, Fiduciary and Custody Assets Safe? (Dec. 5, 2008)
- Differences between Traditional Banks and Investment Banks (Sept. 18, 2008)
Testimony/Comment Letters
- Letter to FDIC requesting extension of transaction account guarantee program (March 12, 2010)
- Letter to Secretary Geithner opposing single bank regulator
(May 29, 2009) - Testimony of Stephen P. Wilson Exploring the Balance between Increased Credit Availability and Prudent Lending Standards before the House Financial Services Committee (March 25, 2009)
- Testimony of Edward L. Yingling regarding the FDIC and CPP before the House Financial Services Committee (Feb. 3, 2009)
- Testimony of Edward L. Yingling regarding TARP and the Capital Purchase Program before the House Financial Services Committee (Jan.13, 2009)
- Testimony of Edward L. Yingling regarding the Troubled Assets Recovery Program before the House Financial Services Committee
(Nov. 18, 2008) - Letter to Secretary Paulson on urging clarification on CPP due to public confusion (Oct. 30, 2008)
- Testimony of Stephen Wilson regarding Creating Opportunities for Small Businesses in an Economic Recovery before the House Small Business Committee
(Oct.28, 2008) - Testimony of Edward L. Yingling regarding Financial Regulation before the House Financial Services Committee
(Oct. 21, 2008) - Letter to Secretary Paulson on public confusion on TARP's Capital Purchase Program (Oct. 17, 2008)
Press Releases
- ABA Statement on Proposed Bank Tax (Feb. 13, 2012)
- Bank Economists See Improving U.S. Economic And Employment Growth (June 14, 2011)
- ABA Statement On FDIC's Extension Of TAG Program (April 13, 2010)
- ABA Statement on TARP Oversight Panel Report on CRE Lending (Feb. 11, 2010)
More Resources
