Yesterday, FEI released updated survey results on the
FEI Survey on U.S. Treasury Department's Financial Stability Plan. This relates to the Financial Stability Plan outlined by Treasury Secretary Tim Geithner on February 10 (see
FEI summary).
The updated survey results include close to 150 responses from FEI's membership, which includes over 15,000 senior financial executives. (We released preliminary results on Feb. 13 which included 100 responses; the updated results have not changed significantly from the preliminary results.) Some highlights from the updated results released yesterday (note: we abbreviate Financial Stability Plan as FSP below):
- 15% believe the FSP will help their company
- 28% believe the FSP will help the economy
- 15% believe the FSP will make credit more readily available
Asked why they do not believe credit will be more readily available, respondents indicated their agreement with these potential reasons, said 'don't know,' or responded 'other' as follows:
- 15% "No, because of hard to value troubled assets"
- 7% "No, because of fair value/mark-to-market accounting"
- 37% "No, because of a combination of the above" [i.e. a combination of hard to trouble assets, and the fair value/mark-to-market rules]
- 13% Don't know [i.e., don't know if it will or will not make credit more available]
- 13% Other (see narrative responses for 'other')
Separately, another organization, CFO.com published the results of a small survey it conducted for anecdotal evidence on CFO views on the American Recovery and Reinvestment Act of 2009 (ARRA), the $787 billion economic stimulus plan. Read more in the article by Kate Plourd and Sarah Johnson published in CFO.com yesterday, Cheered by Obama Talk, CFOs Still Fret Lack of Detail. If you received this blog post from 'a friend' and would like to subscribe to our blog, send an email to blogs@financialexecutives.org and write in subject line: Sign Up.