On October 3rd, President Bush signed into law the Emergency Economic Stabilization Act of 2008 (Act), which authorized the Treasury Secretary (Treasury) to establish the Troubled Assets Relief Program (TARP) to purchase “troubled assets.” On October 14th, the TARP Capital Purchase Program (CaPP), through which Treasury makes capital investments in banking institutions, was announced as the first TARP program. Please also see our companion article on the newest Treasury capital program, announced February 25, 2009, the Capital Assistance Program.
Below we discuss the CaPP and the potential impact on capital-raising by financial institutions.
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Published In:
Finance & Banking Updates, Securities Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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