On March 23, 2009, the United States Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the United States Treasury Department announced the Public–Private Investment Program for Legacy Assets. The program is designed to provide liquidity for so-called "toxic assets" on the balance sheets of financial institutions. This program is one of the initiatives coming out of the implementation of the Troubled Asset Relief Program (TARP) as implemented by the U.S. Treasury under Secretary Timothy Geithner. The major stock market indexes in the United States rallied on the day of the announcement rising by over six percent with the shares of bank stocks leading the way. As of early June 2009, the program had not been implemented yet and was considered delayed. Yet, the Legacy Securities Program implemented by the Federal Reserve has begun by fall 2009 and the Legacy Loans Program is being tested by the FDIC. The proposed size of the program has been drastically reduced relative to its proposed size when it was rolled out.
referenceFull Form | Category |
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Provincial Parental Insurance Plan | Business |
Public Private Investment Programme | Business |
Patent Protection Incentive Package | Business |
Public Private Investment Program | Business |
Put Prevention Into Practice | General |
Program Pembangunan Infrastruktur Perdesaan | General |
Public Policy Internship Program | General |
Public Private Integrated Partnership | General |
Perinatal Problem Identification Programme | General |
Prevention and Post Institutional Project | General |
Plan Practice Improvement Project | General |
Private Practice In Pennsylvania | General |
Public Policy Internship Projects | General |
Pharma Packaging Innovation Programme | General |
Plan Plurianual de Inversiones Públicas | International |
Prasarnmit Primary International Program | International |
Putting Prevention Into Practice | Medical |
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