On the first official day of the scheme, which offers lenders a taxpayer-backed guarantee for loans to borrowers with as little as 5% deposits, three high street banks were signed up.
L. 115 334, § 6201(1), substituted "provide grants, provide loans, and provide loan guarantees" for "provide loans and loan guarantees".
It spends $13 billion on the direct loan program, in which the federal government provides loans to students through universities, and about $39 billion on the guaranteed loan program, which offers guarantees for loans made by banks.
"Specifically," Ms. Bair said, "the government could establish standards for loan modifications and provide guarantees for loans meeting those standards.
The German economy minister, Werner Mueller, promised on Sunday that the government would provide state guarantees for loans totaling 400 million euros in a bid to save the company and its 5,500 employees from bankruptcy after France Télécom abandoned Mobilcom last week.
The GSM 102 Programme provides credit guarantees for financing terms of six to 36 months (US$5billion for FY 1996), while the GSM 103 Programme can provide guarantees for loans with terms of three to ten years ($500million for FY 1996).
Archives|WILL PROTECT THE FRANC.; Herriot Refuses National Guarantee for Pension Loan.
WILL PROTECT THE FRANC.; Herriot Refuses National Guarantee for Pension Loan.
She recently used her house as a guarantee for a loan to pay for renovations on her son's property.
Under the federal bailout plan for the industry, Mr. Banmiller said, the airline is planning to seek a government guarantee for a loan of about $30 million.
Although each borrower must belong to a five-member group, the group is not required to give any guarantee for a loan to its members.
