Treasury extends deadline to participate in toxic-asset plan

Fund managers will now have until April 24 to submit bids to the Treasury Department to participate in the public-private investment program to buy so-called legacy securities, or toxic assets, from banks, the Treasury said Monday. The government extended the deadline to give more companies a chance to apply, and said it would consider firms that don't meet the standard of having $10 billion in assets under management. "Participation criteria will be viewed holistically -- failure to meet any one criterion will not necessarily disqualify a proposal," the Treasury said.

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- Posted: 2009-04-06 08:36:15

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