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Troubled Asset Relief Program (TARP)

A US government programme which was a component of the Emergency Economic Stabilization Act of 2008. The programme gave authority to the Secretary of the US Department of Treasury to buy mortgage-backed securities and other financial instruments from the financial institutions hurt by the 2008-9 financial crisis in order to improve liquidity and stability of the country’s financial system.

Reference: Oxford Press Dictonary of Economics, 5th edt.