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Treasury Announces New Website Detailing Financial Stability Plan Programs

U.S. Treasury Department
Office of Public Affairs

 

FOR IMMEDIATE RELEASE:  March 31, 2009                                   

CONTACT: Treasury Public Affairs (202) 622-2960

 

Treasury Announces New Website Detailing Financial Stability Plan Programs

 

FinancialStability.Gov to Provide the Latest Information on

Administration Efforts to Stabilize the Financial System

 

Washington, DC – The U.S. Department of the Treasury today launched a new web site—FinancialStability.gov – to provide the American people with information about the Obama Administration’s efforts to stabilize our financial system.  

 

At FinancialStability.gov, users will learn about the design of the Administration’s Financial Stability Plan and its impact on opening up lending to consumers and businesses. Under the plan, Treasury has announced detailed programs to address falling housing prices through a mortgage refinancing and modification program that will help up to 9 million American stay in their homes; unlock frozen credit markets through a Consumer and Business Lending Initiative to jumpstart new auto, credit card and student loans; assess banks’ need for an extra capital cushion in the face of a worsening economy and provide them with access to capital through the Capital Assistance Program; and buy up troubled assets weighing down bank balance sheets through a Public Private Investment Program, allowing banks to raise private capital and increase lending.

 

Key to the Obama Administration’s efforts to get the economy back on track is a new level of transparency and accountability that is designed to protect American taxpayers by ensuring proper use of public funds and demonstrating the results of the stability efforts.   FinancialStability.gov will be central to that effort, by detailing how taxpayer dollars are spent, what conditions are placed on institutions in exchange for government assistance, and the results achieved by the stability programs.   The new website will present this information in a clear and straightforward format.

 

Features of FinancialStability.gov include: 

 

-          Interactive map illustrating state-by-state bank and financial institution funding.

 

-          A unique decoder tool that translates frequently used financial language and Financial Stability Plan program names into real terms.

 

-          Simplified economic data to help users better understand and monitor the economic environment and learn more about the impact of the Administration’s efforts.

 

-          Search function for various Financial Stability Plan program participants and contracts awarded under the program.

 



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