**GAO-10-531**                      Published: Jun 30, 2010. Publicly Released: Jun 30, 2010.                  

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## Highlights

The Department of the Treasury's (Treasury) authority to purchase, commit to purchase, or commit to guarantee troubled assets was set to expire on December 31, 2009. This important authority has allowed Treasury to undertake a number of programs to help stabilize the financial system. In December 2009, the Secretary of the Treasury extended the authority to October 3, 2010. In our October 2009 report on the Troubled Asset Relief Program (TARP), GAO suggested as part of a framework for decision making that Treasury should coordinate with relevant federal agencies, communicate with Congress and the public, and link the decisions related to the next phase of the TARP program to quantitative analysis. This report discusses (1) the process Treasury used to decide to extend TARP and the extent of coordination with relevant agencies and (2) the analytical framework and quantitative indicators Treasury used to decide to extend TARP. To meet the report objectives, GAO reviewed key documents related to the decision to extend TARP, interviewed agency officials and analyzed financial data.

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## Topics

Financial Markets and Institutions

AssetsCapitalDecision makingEconomic stabilizationFederal aid programsFinancial analysisFinancial institutionsFinancial instrumentsFinancial managementFinancial markets regulationFinancial recordsFinancial regulationInteragency relationsMonitoringMortgage programsProgram managementFinancial conditionProgram coordinationProgram implementation