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Public-Private Investment Funds: Issues for Potential Investors
March 24, 2009 Full PDF
Yesterday the Treasury released highly anticipated details regarding the Public-Private Investment Fund ("PPIF") portion of the Financial Stability Plan. The PPIF plan is intended to address the "legacy" assets at the center of the global financial crisis. These assets include both residential and commercial real estate loans held directly on the balance sheets of banks ("legacy loans") and securities backed by real estate loan portfolios held by financial institutions ("legacy securities"). The announcement covered the creation of both a Legacy Loans Program and a Legacy Securities Program, the latter of which includes an expansion of the Term Asset-Backed Securities Loan Facility ("TALF") program to include both residential and commercial backed mortgage securities.