Page:Emergency Economic Stabilization Act of 2008.djvu/6

 O:L4YOL4YO0 8 C0 4.xaxd 6 is necessmy to promote financial market sta- bility, but only upon transmittal of' such deter- minatian, in writing, to the appropriate commit- tees of' Congress. TITLE I--TROUBLED ASSETS RELIEF PROGRAM SEC. 101. PURCHASES OF TROUBLED ASSETS. 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 (a) OFFICES; AUTHORITY.-- (l) AUTHORITY. The SeercrafT is authorized to establish a troubled asset relief' program (or "TARP") to purchase, and to make and fhnd cam- mirmerits to purchase, troubled assets from any fi- nancial institution, on such terms and conditions as are determined by the Secretmy, and in accordance with this Act and the policies and procedures devel- oped and published by the Secretmy. (2) COMMENCEMENT OF PROGRAM.--E stablish- ment of' the policies and procedures and other simi- lar administrative requirements imposed on the Sec- retary by this Act are not intended to delay the cam- mencement of' the TARP. (3) ESTABLISHMENT OF TREASURY OFFICE.-- (A) IN GENERAL.--The SecretaT shall im- plement any program under paragraph (1) through an Office of Financial Stability, estab-

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