Treasury Releases TARP Transaction, First Tranche Reports
by Craig Jennings, 11/10/2008
On the Depart of Treasury Emergency Economic Stabilization Act (EESA, AKA TARP) website, the Department has posted, according EESA law, a list of transactions made under TARP. And here they are, all $125 billion* worth of them:
Also in accord with the law, Treasury has released its First Tranche Report to Congress. Among other things, the report includes:
- A description of all the transactions made during the reporting period.
- A description of the pricing mechanism for the transactions.
- A justification of the price paid for, and other financial terms associated with, the
- transactions.
However, ProPublica, is one step ahead of Treasury. In addition to transactions completed under TARP, ProPublica is tracking which banks have are participating in TARP's Capital Purchase Program but have yet to receive funds. Their tally indicates that Treasury has committed over $172 billion to banks.
*The total amount of completed transactions is $115 billion. The last transaction on the above list is pending Merrill Lynch's merger with Bank of America