LIMITING TRIA EXTENSION
Posted On: Jun. 24, 2007 12:00 AM CSTThe Bush administration says three elements are needed to create an acceptable extension of the backstop created by the Terrorism Risk Insurance Act. The administration says the program:
- Should remain temporary and short-term
- Retentions by the private sector should be increased
- The backstop should not be expanded
Source: Testimony of David G. Nason, Treasury Department assistant secretary for financial institutions