2008 Financial Crises Discussion Forums
FSOB Discussion Forums
Discuss the policies and actions of the Financial Stability
Oversight Board and other Executive Branch, Independent Agencies, Congress and
others regarding the Emergency Economic Stabilization Act of 2008, and other
governmental actions taken in response to the economic crises of 2008
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Treasury Issues Additional Information on Capital Purchase Program Posted by fsobwebmaster
(2008/11/3)
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| October 31, 2008
HP-1247
Treasury Issues Additional Information on Capital Purchase Program
Washington- The Treasury Department today issued additional documents for publicly traded financial institutions applying for the capital purchase program authorized by the Emergency Economic Stabilization Act. Documents include:
- Securities Purchase Agreement: This document describes the terms of the financial institution's agreement to issue shares and fulfill other requirements in exchange for Treasury's investment.
- Form of Letter Agreement: This contractual agreement describes the firm-specific information necessary to implement the securities purchase agreement and represents the financial institution's commitment to the terms of the Securities Purchase Agreement.
- Certificate of Designations: This document creates the preferred shares.
- Form of Warrant – Stockholder Approval Not Required: This document describes the terms of the warrants Treasury receives when stockholder approval is not required.
- Form of Warrant – Stockholder Approval Required: This document describes the terms of the warrants Treasury receives when stockholder approval is required.
- Term Sheet
- SEC, FASB Letter on Warrant Accounting
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[2008/11/3]
Treasury Hires Preeminent Legal Firms Under the Emergency Economic Stabilization Act
November 3, 2008
HP-1251
Treasury Hires Legal Firms Under the Emergency Economic Stabilization Act
Washington- The U.S. Treasury Department today announced that Hughes Hubbard & Reed, LLP and Squire Sanders & Dempsey, LLP will assist the Department in the implementation of the Capital Purchase Program authorized under the Emergency Economic Stabilization Act. Treasury procured the services of the law firms on Wednesday....
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[2008/10/21]
Treasury issues Small Business TARP Procurement Participation Guidance
10/20/2008
The Department of Treasury has issued guidelines for small business participation in TARP procurement opportunities. A copy of this guidance is available in the "Downloads" section of this website (see Menu in left sidebar).
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[2008/10/20]
Statement by Secretary Henry M. Paulson, Jr. on Capital Purchase Program
from Press Room
US Department of the Treasury
October 20, 2008
hp-1223
Statement by Secretary Henry M. Paulson, Jr. on Capital Purchase Program
Washington, DC-- Good morning. As you know, over the last few weeks we have worked aggressively to implement the authorities provided by Congress in the financial rescue package enacted earlier this month. This morning, I will provide a short update on the capital...
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[2008/10/16]
Squire Sanders Client Alert - More Financial System Stabilization Measures
The global law firm Squire, Sanders & Dempsey L.L.P. has issued a Client Alert - "More Financial System Stabilization Measures" on Thursday, October 16, 2008 which highlights the new New Treasury Capital Purchase Program which Offers Capital to U.S. Banks and Thrifts, With Strings Attached; Enrollment Action Needed By November 14.
For a copy of the Client...
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[2008/10/15]
Treasury Issues NOTICE 2008-TAAP - Executive Compensation Guidance
NOTICE 2008-TAAP
I. PURPOSE
This Notice, issued pursuant to sections 101(a)(1), 101(c)(5), and 111(c) of the Emergency Economic Stabilization Act of 2008, Div. A of Pub. Law No. 110-343 (EESA), provides guidance on certain executive compensation provisions applicable to a financial institution from which the Department of the Treasury (Treasury) acquires troubled assets through an auction purchase. Section 111(c) of EESA prohibits such...
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[2008/10/14]
Temporary Liquidity Guarantee Program
Temporary Liquidity Guarantee Program
The Secretary of the Treasury, in consultation with the President and upon the recommendation of the Boards of the FDIC and the Federal Reserve, has invoked the systemic risk exception of the FDIC Improvement Act of 1991. This action will provide the FDIC with flexibility to provide a 100 percent guarantee for newly-issued senior unsecured debt and non-interest bearing transaction deposit accounts...
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[2008/10/14]
Statement by Federal Deposit Insurance Corporation Chairman Sheila Bair; U.S. Treasury, Federal Reserve, FDIC Joint Press Conference
Statement by Federal Deposit Insurance Corporation Chairman Sheila Bair; U.S. Treasury, Federal Reserve, FDIC Joint Press Conference
October 14, 2008
Good morning. Thank you for coming.
As Secretary Paulson and Chairman Bernanke indicated, the extraordinary steps we're taking today are intended to bolster public confidence in our financial institutions and throughout the American economy.
Achieving this goal...
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[2008/10/14]
FDIC Announces Plan to Free Up Bank Liquidity
FOR IMMEDIATE RELEASE
October 14, 2008 Media Contact:
Andrew Gray (202) 898-7192
The Federal Deposit Insurance Corporation (FDIC) announces a new program—the Temporary Liquidity Guarantee Program—to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and certain holding companies, and by providing full coverage of non-interest...
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[2008/10/14]
Notice 2008-100 - Application of Section 382 To Loss Corporations Whose Instruments Are Acquired By The Treasury Department
Notice 2008-100
This notice provides guidance regarding the application of section 382 to loss corporations whose instruments are acquired by the Treasury Department (Treasury)under the Capital Purchase Program (CPP) pursuant to the Emergency Economic Stabilization Act of 2008, P.L. 110-343 (the “Act”).
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