National News

Treasury releases new financial stability plan

Treasury Secretary Tim Geithner announced the sequel to TARP and issued a joint statement with the leaders of the Fed, FDIC, OCC and OTS. The measures involve a new Capital Assistance Plan; public/private investment of $500 billion to $1 trillion for bad assets; expansion of the Term Asset-Backed Securities Lending Facility; extension of the FDIC’s Temporary Liquidity Guarantee Program; and new governance and oversight provisions for banks that receive funds. CAP participation requires banks with more than $100 billion in assets to undergo “stress . . .

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