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Title XIII: 13.1 Authorized TARP Appropriations

<< Title XIII Overview

13.1 Authorized TARP Appropriations



13.1. Authorized TARP Appropriations.  Title XIII decreases the TARP funds authorized under the Emergency Economic Stabilization Act of 2008 ("EESA") from $700 billion to $475 billion.  Title XIII provides that for purposes of calculating the amount of authority exercised by the Treasury Secretary to purchase troubled assets under EESA, such amount will not be reduced by: (i) any amounts received by the Treasury Secretary before, on, or after the date of enactment of the Act from repayment of the principal of financial assistance by an entity that has received financial assistance under the TARP or any other program enacted by the Treasury Secretary under EESA; (ii) any amounts committed for any guarantees pursuant to the TARP that became or become uncommitted; or (iii) any losses realized by the Treasury Secretary.  Title XIII further provides that no authority under EESA may be used to incur any obligation for a program or initiative that was not initiated prior to June 25, 2010. [§1302]