TARP

Troubled Asset Relief Program. In 2008, Congress initially authorized $700 billion for various initiatives designed to strengthen market stability and enhance liquidity during the financial crisis. Initially, it was contemplated that funds would be used to purchase “toxic assets,” however, UST modified the direction of its emergency efforts. The UST implemented the Capital Purchase Program (CPP) pursuant to TARP pursuant to which UST purchased preferred stock in various U.S. banks