Treasury's lastest transaction report for the Capital Purchase Program (CPP) was released yesterday, showing funding of approximately $167.76 billion to qualified financial institutions under the CPP. This report comes two weeks after the Treasury Department released its Third Tranche Report to Congress with attached Appendices. Tranche reports are required under Section 105(b) of the Emergency Economic Stabilization Act of 2008 after every $50 billion of Troubled Assets Relief Program (TARP) funding. The Third Tranche Report represented TARP funding at the $200 billion level and included the $40 billion transaction with AIG under the Systemically Significant Failing Institution (SSFI) Program established by Treasury under TARP.
Treasury released its Initial Section 105(a) Troubled Asset Relief Program Report to Congress in which its described its use of approximately $335 billion in TARP funds under various programs including the CPP, the SSFI program, the Term Asset-Backed Securities Loan Facility and a government financial assistance package addressing Citigroup.
The First Report of the Congressional Oversight Panel for Economic Stabilization was also released last week. The final opening on the board was filled today by Sen. John E. Sununu, who joins current members Elizabeth Warren, Rep. Jeb Hensarling, New York Superintendent of Banks Richard Neiman, and Damon Silvers, associate counsel at the AFL-CIO.