In October 2008, the U.S.Congress passed the ________, under which the U.S.Treasury provided funds to banks in exchange for stock.
A)Bank Rescue Alliance Treaty (BRAT)
B)Mortgage Transfer Agency (MTA)
C)Troubled Asset Relief Program (TARP)
D)Financial Assurance Association (FAA)
E)Office of the Superintendent of Financial Institutions (OSFI)

Question

Quizplus · Accepted Answer

The Troubled Asset Relief Program (TARP) was passed in October 2008 and allowed the U.S. Treasury to provide funds to banks in exchange for stock. The other options listed do not accurately describe this program.