Today, the U.S. Department of the Treasury released a statement briefly outlining its assessment of the Financial Stability Plan – one year later. Treasury Secretary Timothy Geithner stated that the actions taken pursuant to the plan, "along side the American Reinvestment and Recovery Act of 2009 have worked to restore economic growth and financial stability," and that progress has been achieved at "a much lower cost than anticipated." Secretary Geithner noted that the "expected cost of stabilizing the system has fallen" as Treasury, among other things, has been able to "recover two-thirds of TARP investment in banks" and that, if Congress adopts President Obama's proposed Financial Crisis Responsibility Fee, TARP will "not cost taxpayers one cent." The release also briefly discussed "improved" credit conditions, including by means of the Term Asset-Backed Securities Loan Facility, which helped lower spreads and improve issuance of asset backed securities. He noted, however, that several challenges remain including the increased rate of bank failures, an "acute" foreclosure crisis, and that credit still remains tight for small businesses.