Entries Tagged 'Government Intervention' ↓
November 29th, 2009 — Government Intervention, Mortgage, Mortgage Loans, Treasury Department
The U.S. Treasury Dept. is planning to meet with mortgage lenders and servicers on Monday to urge them to do more to rework troubled home loans.
The Treasury Department’s assistant secretary for financial stability, Herbert Allison, will meet with the mortgage lenders because the Department has been expressing dissatisfaction with lenders recently over the slow rate at which they are amending loan agreements to help borrowers meet their monthly obligations.
In addition, the Treasury Department will be taking steps to enhance mortgage servicer accountability as part of a broader program to increase conversion rates to permanent modifications.
September 21st, 2008 — Bailout, Credit Crisis, Credit Crunch, Economy, Government Intervention, Moneymarket Funds
The U.S. Treasury Department and the Federal Reserve took action on Friday to shore up the $3.3 trillion money-market fund sector.
Investors had been fleeing money-market funds in the wake of the recent chaos on Wall Street.
Although money-market funds are usually considered a safe investment, and are popular with American consumers and companies alike, recent redemptions have badly strained these funds, as well as and global financial markets.
In response to this crisis, the Treasury said it would guarantee up to $50 billion in money-market fund investments at financial institutions that pay a fee to participate in the program. This new initiative, which lasts for one year, will guarantee that the fund values do not fall below the standard $1 per share.