Tarp Money Used to Fund 3.5 Percent 30-Year Fixed Loan Program
North Carolina-based Citizens South Bank announced yesterday that it will use the entire $20.5 million in TARP money it received to fund a 30-year fixed loan program with a 3.5 percent start rate.
The loan program will carry a teaser rate of 3.5 percent for the first 24 months, and then adjust into a 30-year fixed-rate mortgage set at 5.5 percent for the remaining duration.
“CPP funds issued as part Read more
TARP Funds May Actually Be Used to Buy Troubled Assets
Here’s a thought.
The Treasury’s Troubled Asset Relief Program, or TARP, may actually be carried out as it was originally intended, according to remarks from Fed Vice Chairman Donald Kohn.
While speaking before the Committee on Financial Services today, Kohn said some of the remaining TARP funds could be used to buy troubled assets from struggling banks.
“A continuing barrier to Read more
Where Did All the TARP Money Go?
If you’re curious where all that TARP money went, you no longer have to wonder.
The Federal Reserve today released details of all the transactions that took place over the past couple months since the program was launched.
As of December 31, a whopping $177.5 billion was invested in scores of U.S. financial institutions via senior preferred shares through the so-called Capital Purchase Program (CPP).