As part of an ongoing effort to refine the guidelines and enhance the effectiveness of the Financial Stability Plan programs, the Treasury Department today released additional guidance for potential investors in the securities portion of the Public Private Investment Program (PPIP). The new guidance extends the deadline for application to the program and clarifies that participation criteria will be viewed holistically -- failure to meet any one criterion will not necessarily disqualify a proposal. Additionally, the guidance highlights Treasury's interest in program participation by small, minority and women-owned businesses; the potential for further expansion of participants and asset classes; and the interaction of the Federal Reserve's Term Asset-Backed Securities Lending Facility (TALF) with this program.
To better accommodate increased participation, the deadline for email submission of applications has been extended to 5 p.m. ET on Friday, April 24, 2009. Treasury now expects to inform applicants regarding preliminary qualification on or prior to Friday, May 15, 2009. The Treasury Department requests that all applications be submitted via email only.
Bonus Watch '15: Perella Weinberg Tells Employees To Keep Expectations Low To Really Low (UPDATE)
Apparently this is not the season to get one's hopes up.