Items Tagged with 'Toxic asset'


  • NPR Offers Remedial MBS Analysis for Regulators

    I'm going all the way to the end of my limb to say, as often as possible, in as many different ways as I can, that I believe the Federal Deposit Insurance Corp. (FDIC) and the Securities and Exchange Commission (SEC) are misleading themselves and the American public by insisting that asset-backed securitization will resume if only they rewrite the current rules for disclosure. The enhancements they are calling for substantially exist already, and to call for them anew disingenuously implies that they don't.
    Read More
  • PPIP Needs to Help Large and Small Banks Says COP

    When the Treasury introduced the Troubled Asset Relief Program (TARP) last fall, its goal was to provide funds to institutions so they could clear the toxic assets off their books. But by the time the legislation creating TARP was passed in October, Treasury went with a different strategy, distributing funds to banks so they could build up loss reserves. Even as banks are beginning to repay the government for the TARP investments, many of those bad assets remain on the books.
    Read More
  • Regulators Reveal PPIP Fund Managers

    [Update 1 includes details on the FDIC's legacy loans arm of the PPIP] The US Treasury Department officially unveiled the Public-Private Investment Program (PPIP), on Wednesday releasing long-awaited details on the program. The PPIP is divided in two major programs -- the securities branch and the loan branch -- which together aim to clear mortgage-related securities and other toxic assets from banks' balance sheets.
    Read More
  • 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 stress tests to account for already worsening economic conditions.
    Read More
  • Questions of Faith for Legacy Loans Program

    The Federal Deposit Insurance Corp. (FDIC), which is designing the Legacy Loans Program, is receiving concerns from both potential buyers and potential sellers of the loans that the rules of the program might change as public and political views of Wall Street deteriorate further. The Legacy Loans Program, a big part of the Public-Private Investment Program (PPIP) designed to attract private capital to buy up toxic -- or so-called "legacy" -- loans may even be closed, reports say, as regulators shuffle programs to find the right balance.
    Read More
  • Firms Line Up to Invest in PPIP, Treasury Taps Managers

    Private capital firm Paramax and Maria Fiorini Ramirez, a firm providing independent economic forecasts, teamed-up to target investment opportunities within the US Treasury's Public-Private Investment Program (PPIP). "Successful execution of PPIP could help to unfreeze the credit markets and jumpstart the recovery of the housing finance sector," said Paramax CEO Gordon Baird, who believes investment PPIP is an opportunity for the newly formed group to play a significant role in the recovery process.
    Read More