US Department of the Treasury
Additional executive compensation rules issued under TARP
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Tarp runs out at last
Funds from the Troubled Asset Relief Program (Tarp) have finally been exhausted, following three months of capital injections and loan facilities extended to a variety of institutions.
US divided over regulatory convergence
Regulatory News
Paulson: buying MBSs no longer Tarp priority
Treasury secretary Hank Paulson closed the door to systematic US government purchases of illiquid mortgage-backed securities under its $700 billion Troubled Asset Relief Programme (Tarp), during a briefing in Washington, DC today.
Treasury and Fed help AIG lay-off CDO risk
AIG was shored up by a restructuring plan hammered out by the US Treasury and Federal Reserve Bank of New York today, which involved the creation of an off-balance-sheet vehicle to neutralise some of the insurer’s hefty collateralised debt obligation …
Hammer time
The approval by the US Congress of a $700 billion rescue package in October has paved the way for the US Treasury to purchase illiquid assets from banks' balance sheets. The question is: how will these assets be valued? In this month's Class Notes…
Treasury names interim CIO for Tarp
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"Several weeks" before first asset purchases, says Paulson
It will be several weeks before the US Treasury will make its first purchase under the $700 billion Emergency Economic Stabilisation Act (EESA), according to US Treasury secretary Henry Paulson.
US government takes control of AIG
The US Federal Reserve Board has agreed to lend struggling insurance company American International Group (AIG) up to $85 billion, in return for a 79.9% equity stake in the firm.
Fed asks Treasury for supplementary funding
The US Treasury department is creating a temporary supplementary funding programme at the request of the Federal Reserve. The initiative has been devised to manage the balance-sheet impact of the Fed’s lending and liquidity operations, and ensure it can…
Fannie and Freddie equity plunge continues as bailout looms
Speculation is mounting in the US that the Treasury will shortly have to give direct support to Fannie Mae and Freddie Mac, as the government-sponsored enterprises’ (GSEs) equity prices plunged to 17-year lows today.
US financial regulatory structure poised for change
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US regulators tighten grip on mortgage lenders
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US better prepared for flu outbreak than feared
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Market reacts to US Treasury subprime plan
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Master conduit trio joined by Wachovia
Wachovia has joined Bank of America, Citi and JP Morgan in a plan aimed at restoring calm to the troubled structured investment vehicle (SIV) sector.
US Treasury tells derivatives managers to improve Risk practices
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US Treasury backs timely implementation of Basel II
Speaking to the Institute of International Bankers (IIB), the under secretary of the US treasury for domestic finance Randal Quarles addressed some of the issues impeding the implementation of Basel II in US financial institutions.
US Treasury and IRS ponder CDSs
The US Treasury and Internal Revenue Service (IRS) have responded to calls from taxpayers and industry groups concerned about the tax treatment of credit default swaps (CDSs) by issuing a notice requesting information from interested parties.
US Treasury department creates new financial institutions policy office
A new office that will focus on legislative and policy matters related to the financial services sector — including commercial banks, investment banks, insurance companies, credit unions and savings and loans — was announced yesterday by the US Treasury.
Top regulators denounce attempt to resurrect OTC energy bill
The four most senior financial regulators in the United States have joined forces to express concern at legislative proposals to expand regulation of over-the-counter energy derivatives.