Troubled Asset Relief Program: Lifetime Cost | U.S. GAO

Dec 7, 2023 · Treasury's Troubled Asset Relief Program was created to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures during the 2008 …

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GAO-24-107033, TROUBLED ASSET RELIEF PROGRAM: …

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interest, and other income, the lifetime cost of TARP-funded programs was $31.1 billion. While there will be no impact to the net cost, TARP has over $14.2 billion in unused funds that it will …

gao.gov

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GAO-14-388, TROUBLED ASSET RELIEF PROGRAM: Status Of …

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GAO-14-388 United States Government Accountability Office . ... estimated a lifetime gain of $16.1 billion for CPP as of November 30, 2013. Status of Capital Purchase Program Funds …

hsdl.org

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Final Report On The Troubled Asset Relief Program

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the Treasury’s mortgage programs, whereas CBO esti-mates a cost of $31.4 billion. Changes in CBO’s Estimates Since April 2023 In its Report on the Troubled Asset Relief Program— April …

cbo.gov

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GAO-11-467T, TROUBLED ASSET RELIEF PROGRAM: Status Of …

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purchase or guarantee up to $700 billion in troubled assets. The Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22, Div. A, 123 Stat. 1632 (2009), amended EESA to …

senate.gov

FAQs about Troubled Asset Relief Program: Lifetime Cost | U.S. GAO Coupon?

What is the Troubled Asset Relief Program (TARP)?

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush. ...

What is gao-24-107033?

GAO-24-107033 Published: Dec 07, 2023. Publicly Released: Dec 07, 2023. Treasury's Troubled Asset Relief Program was created to help stabilize the U.S. financial system, restart economic growth, and prevent avoidable foreclosures during the 2008 financial crisis. ...

How much did TARP cost in 2023?

As of September 30, 2023, all TARP programs have closed. While Congress authorized $700 billion for TARP, Treasury utilized far less than that. The TARP actual lifetime cost was approximately $31.1 billion, most of which was attributable to the program's efforts to help struggling homeowners avoid foreclosure. ...

What did Gao do during tarp?

For the entire 15-year duration of TARP, GAO issued unmodified (clean) opinions on its financial statements. In addition, GAO performed many other audits of TARP-funded programs and made over 70 recommendations for corrective action, most of which Treasury implemented. ...

How much did the treasury pay for the tarp?

In a report dated February 6, 2009, the Congressional Oversight Panel concluded that the Treasury paid substantially more for the assets it purchased under the TARP than their then-current market value. The COP found the Treasury paid $254 billion, for which it received assets worth approximately $176 billion, for a shortfall of $78 billion. ...

Was tarp a response to the financial crisis?

But TARP was only part of the government's response to the crisis. In 2008 and 2009, Treasury, the Federal Reserve, and the FDIC put in place a comprehensive set of emergency programs to stabilize the financial sector and the economy. ...