In October 2008, the Emergency Economic Stabilization Act of 2008 established the Troubled Asset Relief Program (TARP), which authorizes the Department of the Treasury to purchase or insure troubled assets as a way to promote stability in financial markets. Section 202 of that legislation requires CBO to prepare a report on those transactions within 45 days of a report issued by the Office of Management and Budget (OMB) on the TARP’s activities. This third statutory report from CBO on the TARP’s transactions follows the report OMB submitted to the Congress on February 1, 2010.
