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US to leverage USD100bn for toxic assets.

Global Banking News-23 March 2009-US to leverage USD100bn for toxic assets(C)2009 ENPublishing -

Global Banking News - 23 March 2009(c)2005 - Electronic News Publishing -

The US government is planning to leverage USD100bn to ease the outcome on the nation's financial system from banks' bad assets, The Associated Press has reported.

According to Christina Romer, a top adviser to President Barack Obama, the money would be used along with private investments and help from the Federal Reserve to buy hundreds of billions in dubious debts on bank balance sheets.

Romer said that the administration's plan was aimed at reviving the collapsing economy and to boost lending by banks.

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Publication:Global Banking News (GBN)
Date:Mar 23, 2009
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