Treasury Announces New Policy To Increase Transparency in Financial Stability Program

by Sabrina I. Pacifici on January 28, 2009

News release: “Building on President Barack Obama and Secretary Tim Geithner’s commitment to increase transparency and accountability in the Troubled Assets Relief Program (TARP), the U.S. Department of the Treasury today announced a new policy of posting investment contracts for future completed transactions to the Department’s website within five to 10 business days. For contracts already completed, documents will be posted on a rolling basis, beginning today with the first nine contracts completed under the Capital Purchase Program (CPP), as well as contracts for transactions closed under the Systemically Significant Failing Institutions (SSFI) program, the Targeted Investment Program (TIP) and the Automotive Industry Financing Program (AIFP). Treasury will work in the coming weeks to make public all copies of existing investment agreements.”

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