The Group of Seven Finance Ministers and Central Bank Governors released the following statement today:
The G-7 held a conference call today to discuss global financial markets. We reaffirm our strong and shared commitment to protect the integrity of the international financial system and facilitate liquid, smooth...
The Federal Reserve Board on Sunday approved, pending a statutory five-day antitrust waiting period, the applications of Goldman Sachs and Morgan Stanley to become bank holding companies.
To provide increased liquidity support to these firms as they transition to managing their funding within a bank holding...
The U.S. Treasury Department is continuing to develop the specific details surrounding the temporary guaranty program for money market funds that was announced on September 19, 2008.
While these details are being finalized, Treasury is making the following clarifications:
The Treasury Department has submitted legislation to the Congress requesting authority to purchase troubled assets from financial institutions in order to promote market stability, and help protect American families and the US economy. This program is intended to fundamentally and comprehensively address the root...
On September 19, 2008, the FDIC was named as Receiver for Ameribank, Inc., Northfork, West Virginia by the Office of Thrift Supervision. All deposits were transferred to the acquiring institutions; for further information, please visit the FDIC web site: Ameribank (www.fdic.gov)....
Ameribank, Inc., was closed on Sept. 19 by the Office of the Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named receiver. The FDIC entered into purchase and assumption agreements with Pioneer Community Bank, Inc., Iaeger, West Virginia, and The Citizens Savings Bank, Martins Ferry, Ohio...
The Federal Reserve Board on Friday announced two enhancements to its programs to provide liquidity to markets. One initiative will extend non-recourse loans at the primary credit rate to U.S. depository institutions and bank holding companies to finance their purchases of high-quality asset-backed commercial paper...
The U.S. Treasury Department today announced the establishment of a temporary guaranty program for the U.S. money market mutual fund industry. For the next year, the U.S. Treasury will insure the holdings of any publicly offered eligible money market mutual fund - both retail and institutional - that pays a fee to...
Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders. We began a substantive discussion on the need for a comprehensive approach to relieving the stresses on our financial institutions and markets.
We have acted on a...
The Office of Thrift Supervision released a brochure today that describes the benefits for members of the financial services industry of joining a regional coalition to prepare for recovery after a disaster.
The brochure, Regional Coalitions: Public-Private Partnerships for the Financial Services Sector, was...
Statement by Secretary Henry M. Paulson, Jr. on Federal Reserve Actions Surrounding AIG
Washington, DC-- Treasury issued the following statement by Secretary Henry M. Paulson, Jr. on Federal Reserve actions surrounding American International Group:
The federal banking agencies are evaluating the amendments to generally accepted accounting principles proposed today by the Financial Accounting Standards Board (FASB).
These proposals would amend Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and...
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.
Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently, partly reflecting a softening of household spending. Tight...
The FDIC has issued the attached Letter to Stakeholders from FDIC Chairman Sheila Bair, which reports on the FDIC's activities and accomplishments during the second quarter of 2008.
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Louisiana and Texas affected by Hurricane Ike.
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