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Troubled Assets Relief Program (TARP)
https://financialstability.gov/Last activity: 17.01.2019
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Treasury established several programs under TARP to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures.
Although Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Of that, the following amounts were committed through TARP's five program areas:
Approximately $250 billion was committed in programs to stabilize banking institutions ($5 billion of which was ultimately cancelled).
Approximately $27 billion was committed through programs to restart credit markets.
Approximately $82 billion was committed to stabilize the U.S. auto industry ($2 billion of which was ultimately cancelled).
Approximately $70 billion was committed to stabilize American International Group (AIG) ($2 billion of which was ultimately cancelled).
Approximately $46 billion was committed for programs to help struggling families avoid foreclosure, with these expenditures being made over time.
The authority to make new financial commitments under TARP ended on
October 3, 2010. As of October 31, 2016, cumulative collections under TARP, together with Treasury's additional proceeds from the sale of non-TARP shares of AIG, exceed total disbursements by more than $7.9 billion. Treasury is now winding down its remaining TARP investments and is also continuing to implement TARP initiatives to help struggling homeowners avoid foreclosure.
TARP Programs
Auto Industry
TARP helped prevent the collapse of the American auto industry, saving more than a million American jobs.
Bank Investment Programs
TARP helped stabilize America's banking system during the financial crisis.
Credit Market Programs
TARP helped restart the secondary credit markets which are essential to keeping credit flowing to households and businesses.
Executive Compensation
Treasury issued standards governing executive compensation at financial institutions that received assistance under TARP. These standards are implemented and are overseen by the Office of the Special Master.
Housing
TARP helped prevent avoidable foreclosures and keeps families in their homes.
Investment in AIG
The Federal Reserve and Treasury took action to stabilize AIG because its failure during the financial crisis would have had a devastating impact on our financial system and the economy.
Although Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Of that, the following amounts were committed through TARP's five program areas:
Approximately $250 billion was committed in programs to stabilize banking institutions ($5 billion of which was ultimately cancelled).
Approximately $27 billion was committed through programs to restart credit markets.
Approximately $82 billion was committed to stabilize the U.S. auto industry ($2 billion of which was ultimately cancelled).
Approximately $70 billion was committed to stabilize American International Group (AIG) ($2 billion of which was ultimately cancelled).
Approximately $46 billion was committed for programs to help struggling families avoid foreclosure, with these expenditures being made over time.
The authority to make new financial commitments under TARP ended on
October 3, 2010. As of October 31, 2016, cumulative collections under TARP, together with Treasury's additional proceeds from the sale of non-TARP shares of AIG, exceed total disbursements by more than $7.9 billion. Treasury is now winding down its remaining TARP investments and is also continuing to implement TARP initiatives to help struggling homeowners avoid foreclosure.
TARP Programs
Auto Industry
TARP helped prevent the collapse of the American auto industry, saving more than a million American jobs.
Bank Investment Programs
TARP helped stabilize America's banking system during the financial crisis.
Credit Market Programs
TARP helped restart the secondary credit markets which are essential to keeping credit flowing to households and businesses.
Executive Compensation
Treasury issued standards governing executive compensation at financial institutions that received assistance under TARP. These standards are implemented and are overseen by the Office of the Special Master.
Housing
TARP helped prevent avoidable foreclosures and keeps families in their homes.
Investment in AIG
The Federal Reserve and Treasury took action to stabilize AIG because its failure during the financial crisis would have had a devastating impact on our financial system and the economy.
Mentions in press and media 16
| Date | Title | Description |
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| Oct 25, 2010 | Watchdog: TARP falls “woefully short” for homeowners | The Troubled Asset Relief Program has so far “fallen woefully short” of preserving homeownership through the Obama administration’s modification efforts, according to the Special Inspector General for TARP, a congressionally mandated watchd... |
| Sep 28, 2010 | 43% of Bank of America HAMP trial cancellations pending action | Of the 148,129 Home Affordable Modification Program trials Bank of America has canceled through August, more than 63,000, or 43%, still await additional loss mitigation action, according to Treasury Department data. Alan White, a Valparaiso... |
| Dec 29, 2009 | List of HAMP Servicers Moves Past 100 | The US Treasury Department added four new servicers to the Home Affordable Modification Program (HAMP), raising the total number of participants to 103, according to the latest Troubled Asset Relief Program (TARP) transaction report. Under ... |
| Dec 21, 2009 | More Servicers Bring HAMP List to 99 | The US Treasury Department added 11 new servicers to the Home Affordable Modification Program (HAMP), pushing the total number of participants to 99, according to the latest Troubled Asset Relief Program (TARP) transaction report. Under HAM... |
| Dec 17, 2009 | Taken Together, Risk Retention and FAS 167 Could Stop the Revival of Securitization | Policy makers and lawmakers are tossing this notion of “risk retention” around as if it were a magic pill, but it could be a fatal potion for any future funding of essential consumer and commercial lending via the securities markets – parti... |
| Dec 16, 2009 | BofA to Focus on Sense of Urgency in Converting HAMP Mods | Two weeks after the Treasury reported Bank of America’s (BAC) 98 permanent modifications eight months into the Home Affordable Modification Program (HAMP), BofA clarified the numbers. According to the Treasury report, BofA has just over 1m ... |
| Dec 14, 2009 | List of HAMP Servicers Grows to 88 | The number of servicers participating in the Home Affordable Modification Program (HAMP) grew to 88, according to the latest report from the US Treasury Department. Under HAMP, the Treasury allocates capped incentives for the modification o... |
| Sep 28, 2009 | Housing Finance Agencies to Receive Treasury Funds | The US Treasury Department is “in discussions” to finalize a program to provide liquidity for state housing finance agencies (HFAs), according to Treasury officials. State HFAs like the New York State Housing Finance Agency originate mortga... |
| Jun 9, 2009 | 10 Banks Cleared to Repay $68 Billion through TARP | [Update 1 includes added details on the COP’s report.] As some of the major US banks awaited approval to repay government aid through the Troubled Asset Relief Program (TARP), one regulatory oversight panel is pushing for another round of s... |
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FAQ about Troubled Assets Relief Program (TARP)
What has the press written about Troubled Assets Relief Program (TARP)?
Parsers VC has collected 16 articles mentioning Troubled Assets Relief Program (TARP), among them “Watchdog: TARP falls “woefully short” for homeowners” (Oct 25, 2010) and “43% of Bank of America HAMP trial cancellations pending action” (Sep 28, 2010).
Is Troubled Assets Relief Program (TARP) still active?
Yes, Troubled Assets Relief Program (TARP) is active; its latest activity on Parsers VC dates from Jan 17, 2019.