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.
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.
Hence Cable's pledges to get tough with rich tax dodgers, to replicate the house-building bonanza of the 1930s and to plough £1bn into a business bank that will provide taxpayer guarantees for loans to small and medium-sized businesses.
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).
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.
C1 Airline Seeks Loan Guarantee US Airways filed an application with the federal government seeking a $900 million loan guarantee for a $1 billion loan that it intends to use to restructure the company.
US Airways filed an application today with the federal government seeking a $900 million loan guarantee for a $1 billion loan that it intends to use to revamp the company.
