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 Investment Programs

Investment Program

The Emergency Economic Stabilization Act of 2008 (EESA) became law on October 3, 2008, during a time of tremendous financial upheaval and economic uncertainty.

The Troubled Assets Relief Program (TARP) was established under the EESA with the specific goal of stabilizing the United States financial system and preventing a systemic collapse.  Treasury has established several programs under the TARP to stabilize the financial system and has now created the Financial Stability Program to further stabilize the financial system and restore the flow of credit to consumers and businesses.

American International Group

On September 30, 2010 AIG announced that it had entered into an agreement‐in‐principle with the U.S. Department of the Treasury, the FRBNY, and the AIG Credit Facility Trust (“Trust”) designed to repay all of the company’s obligations to American taxpayers.


Automotive Industry Financing Program

The objective of the Automotive Industry Financing Program (AIFP) is to prevent a significant disruption of the American automotive industry.

Capital Purchase Program

Treasury created the Capital Purchase Program (CPP) in October 2008 to stabilize the financial system by providing capital to viable financial institutions of all sizes throughout the nation.

Consumer and Business Lending Initiative

The Consumer and Business Lending Initiative was designed to jumpstart the credit markets.

Targeted Investment Program

Under the Targeted Investment Program, Treasury provided exceptional assistance on a case-by-case basis in order to stabilize institutions that were considered systemically significant to prevent broader disruption of financial markets.


Asset Guarantee Program

Under the Asset Guarantee Program (AGP), Treasury acted to support the value of certain assets held by qualifying financial institutions, by agreeing to absorb unexpectedly large losses on certain assets.

Capital Assistance Program

The Capital Assistance Program (CAP), which was set up to provide a mechanism for additional taxpayer support in financial institutions subject to the Supervisory Capital Assessment Program (SCAP).

Community Development Capital Initiative

This program invested lower-cost capital in Community Development Financial Institutions (CDFIs) that lend to small businesses in the country's hardest-hit communities. 

Public-Private Investment Program

The Public-Private Investment Program ("PPIP") is part of the broad effort to repair balance sheets throughout the U.S. financial system and ensure that credit is available to households and businesses.



On October 3, 2010, authority to make new investments under TARP expired. However, Treasury will continue to disburse TARP funds for certain programs where it has existing contracts and previous commitments.  Other TARP programs are closed entirely to any new disbursements. For these programs, Treasury will continue to manage existing investments (e.g. preferred stock, common stock, and warrants) and collect dividends and interest payments for the benefit of American taxpayers, but will not undertake any additional spending.
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Last Updated: 2/4/2011 3:36 PM

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