Market Analysis

Supervisory Authority program to help banks (Troubled Asset Relief Program, TARP) increased the number of investigations into violations of program requirements by 41% in 4 th quarter of 2009 compared with 3 blocks.

chief special inspector Neil Barofski filed 25 criminal and civil cases during the period, increasing the total number of cases on the project to 77, according tf57o a quarterly report to Congress, released Sunday, reports Bloomberg. The 3 quarter of 2009 the Office has initiated 61 cases, and 54 of them are currently under consideration.

overseers studying possible violations related to the provision of assistance to the financial sector in the amount of $ 700 billion among them - insider trading, violations of accounting standards, violations of mortgage lending, corruption, violation of law and money laundering, according to the report. Barofski not specify the details of ongoing cases, but the details of some of them still became known.

Barofski last week confirmed that his office verifies validity of the Federal Reserve Bank of New York illegally restricted the dissemination of information on payments to the contractors insurance company American International, where the insurer was in the process of "saving". AIG was the first by a credit line of $ 85 billion from the New York Fed. The amount increased by 3 times and amounts to $ 182.3 billion Barofski also examines issues of merger Bank of America and Merrill Lynch, says the report.

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