This should begin to satisfy those who have called for more lending and more TARP transparency… Going forward, banks that have taken cash will file monthly reports that quantify their lending and purchases of MBS and other asset-backed securities.
Bloomberg, which saw documents pertaining to the new scheme, doesn’t offer much else, such as whether or not the reports will be made public, or how soon the new rules will be implemented. Of course, if the TARP-on-steroids comes to pass, where taxpayer money is used to hive off even more of the junk on corporate balance sheets, this may be moot.
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