Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Uproar After NC State Agent 'Fixes' Girl's Lunch Preschooler has to eat chicken nuggets instead of mom's meal »

Small Banks May Need More Fed Aid

By Jason Farago,  Newser Staff

Posted Aug 11, 2009 6:32 AM CDT

(Newser) – The Treasury may have to expand its toxic asset programs and repeat stress tests, particularly for smaller banks, a US bailout watchdog panel finds. While larger banks have begun to recover, smaller financial institutions remain exposed to billions in losses from outstanding commercial property loans and are still unable to raise capital, the report concludes.

"A continuing uncertainty is whether the troubled assets that remain on bank balance sheets can again become the trigger for instability," said the Congressional Oversight Panel. It warned that the department must "turn its attention to small banks in crafting solutions to the growing problem of troubled whole loans."

Congressional Oversight Panel Chair Elizabeth Warren conducts a hearing on the Troubled Assets Relief Program, Wednesday, June 24, 2009, on Capitol Hill in Washington.
Congressional Oversight Panel Chair Elizabeth Warren conducts a hearing on the Troubled Assets Relief Program, Wednesday, June 24, 2009, on Capitol Hill in Washington.   (AP Photo/Gerald Herbert)
Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington, Tuesday, April 21, 2009, before the Congressional Oversight Panel of the Troubled Asset Relief Program.
Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington, Tuesday, April 21, 2009, before the Congressional Oversight Panel of the Troubled Asset Relief Program.   (AP Photo/Susan Walsh)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Showing 1 of 1 comment
BackAgain
Aug 11, 2009 3:39 AM CDT
This will never end.

More Newser Stories

Taxpayers Still Have $132.9B Stuck in TARP

ECB Makes Massive $639B Loan to Banks

Ex-AIG CEO Sues US Over Bailout

Fannie Mae Needs Another $7.8B

As Vote Looms, Strike Shutters Greece 2nd Day


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne