Posted on March 23, 2009 by Daniel O'Rielly

Treasury Unveils Plan for Toxic Mortgage Assets

The Treasury today unveiled specific details regarding its plan to create a public-private partnership to purchase toxic assets from financial institutions, named the Public Private Investment Program (PPIP) for Legacy Assets.  Along with its press release, the Treasury also released a white paper on the program.  Among other things, the program provides FDIC and Federal Reserve financing to spur private investors to price and finance purchases of real estate loans held directly on the books of banks ("legacy loans") and securities backed by loan portfolios ("legacy securities").

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