The U.S. Department of the Treasury, in a joint statement with the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), announced today the launch of the Legacy Securities Public-Private Investment Program (PPIP), which is part of the government’s Legacy Securities Program.

Under this program, the Treasury will invest up to $30 billion of equity and debt in public-private investment funds (PPIFs) established with private sector fund managers and private investors for the purpose of purchasing legacy securities.

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