Treasury's Allison: financial system more stable

There are tentative signs that the financial system is beginning to stabilise and that the US Treasury's efforts have made an important contribution to this, said Herbert Allison Jr, the assistant secretary for financial stability at the US Treasury.

Allison said that key indicators of credit-market risk, while still elevated, had dropped substantially. He said that more than 30 firms had repaid $70 billion in Capital Purchase Program investments and that the taxpayer received an estimated $5

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