Treasury Dept.

November 17, 2009 -- WASHINGTON -- Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.    » read more »

November 18, 2009 -- Today's Small Business Financing Forum marks another step in the Obama Administration's commitment to ensuring small businesses can play a crucial role in leading job growth and recovery. As they search for the best ideas and strategies to bring to the President, Treasury Secretary Tim Geithner and Small Business Administrator Karen Mills will build on the measures the Obama Administration has already taken to help small businesses expand through increased access to credit and new tax cuts as part of the American Recovery and Reinvestment Act.

Obama Administration's Actions to Support Small Business

I. Improving Access to Credit    » read more »

November 17, 2009 -- WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2009. The next release, which will report on data for October 2009, is scheduled for December 15, 2009.

Net foreign purchases of long-term securities were $40.7 billion.

* Net foreign purchases of long-term U.S. securities were $55.7 billion. Of this, net purchases by private foreign investors were $44.8 billion, and net purchases by foreign official institutions were $10.9 billion.
* U.S. residents purchased a net $15.0 billion of long-term foreign securities.

Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $31.7 billion.    » read more »

Includes State-Specific Modifications to Date

November 10, 2009 -- WASHINGTON – Today, the Obama Administration released the next monthly report for the Making Home Affordable (MHA) loan modification program. As part of an ongoing commitment to transparency, the report includes for the first time state-specific trial modification numbers. With more than 650,000 modifications under way across the country, the program is on track to meet its goals over the next several years.    » read more »

November 9, 2009 -- The U.S. Department of the Treasury today announced that the Capital Assistance Program (CAP) which was set up to provide a mechanism for additional taxpayer support in financial institutions subject to the Supervisory Capital Assessment Program (SCAP) will close today with no investments having been made. Earlier today, the Federal Reserve announced that 18 of the 19 banks participating in the SCAP or "stress tests" were shown to have no additional capital need or have now fulfilled their need in the private market.    » read more »

November 2, 2009 -- Washington, D.C. -- The U.S. Department of the Treasury today announced its current estimates of marketable borrowing for the October – December 2009 and the January – March 2010 quarters:

* During the October – December quarter, Treasury expects to issue $276 billion in net marketable debt, assuming an end-of-December cash balance of $85 billion, which includes $15 billion for the Supplementary Financing Program (SFP). The borrowing estimate is $209 billion lower than announced in July 2009. The decrease in borrowing is primarily related to cash balance adjustments related to the SFP, and lower outlays offset partially by lower receipts.    » read more »

November 3, 2009 -- The U.S. Department of the Treasury today announced that on October 30, 2009 Angelo, Gordon & Co., L.P. and GE Capital Real Estate completed an initial closing of a Public-Private Investment Fund (PPIF) established under the Legacy Securities Public-Private Investment Program (PPIP). Small, minority-, and women-owned businesses that are partnering with Angelo, Gordon & Co., L.P. and GE Capital Real Estate include:

* CastleOak Securities, L.P.
* Park Madison Partners LLC.    » read more »

October 28, 2009 -- WASHINGTON -- Bill J. Allen and Richard L. Smith were each sentenced in separate hearings today for their participation in a corruption scheme in which they provided approximately $395,000 in corrupt payments to public officials from the state of Alaska, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division. Allen and Smith were sentenced in U.S. District Court for the District of Alaska by U.S. District Court Judge John W. Sedwick.    » read more »

New Markets Tax Credit Program Includes $1.5 Billion Awarded Under the Recovery Act

October 30, 2009 -- CHICAGO-- As part of the Obama Administration's efforts to revive local economies, Treasury Secretary Tim Geithner today visited a job training center in Chicago benefiting from private sector investments made through the New Markets Tax Credit (NMTC) program. As part of his visit, Geithner announced $5 billion in NMTC awards, including $1.5 billion made possible through the American Recovery and Reinvestment Act (Recovery Act), for more than 90 organizations in communities around the country.    » read more »

Systemic Risk Fund Should Act Like Insurance, Not a Bailout

October 29, 2009 -- (Washington DC) Today, members of the Financial Services Committee evaluated comprehensive reform of our financial system, directing questions to Secretary of the Treasury, Timothy F. Geithner. Congressman Luis V. Gutierrez, Chairman of the Subcommittee on Financial Institutions and Consumer Credit, made the following remarks:

Mr. Secretary, I'd like to thank you for appearing before us today; I just had a few comments about the systemic risk proposal that was revealed on Tuesday night.    » read more »

10/30/09 -- WASHINGTON – Today, U.S. Senator Herb Kohl announced that eight Wisconsin based financial institutions will receive New Market Tax Credits from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. These tax credits will provide financial backing for local businesses and organizations to support low-income community development in projects statewide.

Waveland Community Development, LLC - $100 million

First-Ring Industrial Redevelopment Enterprise, Inc. - $70 million

Wisconsin Community Development Legacy Fund, Inc. - $85 million J

ohnson Community Development Company. - $50 million

M&I New Markets Fund, LLC - $40 million

Wisconsin Business Growth Fund, Inc. - $35 million    » read more »

October 30, 2009 -- BOSTON – Senators John Kerry and Paul Kirk today announced that three Massachusetts organizations will receive a total of $230 million under the 2009 round of the New Markets Tax Credit (NMTC) Program. The funding is administered through the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund which aims to expand the capacity of financial institutions to provide capital, credit and financial services to underserved populations and communities in Massachusetts and throughout the nation.    » read more »

Award to Alaska Growth Capital will provide loans

October 30, 2009 -- Following an announcement by Treasury Secretary Tim Geithner, Senator Mark Begich commended the Department of the Treasury for allocating $50 million in tax credits to Alaska Growth Capital BIDCO, INC (AGC), of Anchorage. Funds will be used for loans to businesses, disadvantaged communities, and low income populations for expansion of real estate projects with "high community impacts."    » read more »

Clean Renewable Energy Bonds Awarded to More Than 800 Recipients Nationally

October 27, 2009 --
WASHINGTON -- As part of the Obama Administration's efforts to spur renewable energy production, the U.S. Department of Treasury today announced the allocation of $2.2 billion in Clean Renewable Energy Bonds (CREBs) for 805 recipients across the country.

Funded by the Energy Improvement and Extension Act of 2008 and the American Recovery and Reinvestment Act of 2009 (Recovery Act), these energy bonds help government agencies, public power providers, and cooperative electric companies obtain lower cost financing for clean energy development projects.    » read more »