Given the state of the capital markets and the heretofore limited success of prior initiatives aimed at stabilizing
these markets, the Bush administration has proposed legislation to grant the Treasury Secretary broad authority
to purchase up to $700 billion of non-performing, hard to value real estate and mortgage related assets and securities from financial institutions in order to strengthen their financial position and allow for additional liquidity in the financial system.
In addition, in response to announcements by certain money market funds that have experienced losses threatening their ability to return investor funds based on a net asset value of $1.00, the Treasury has indicated it will begin to guaranty, on a temporary basis certain U.S. money market funds.
For more information, please read full news bulletin.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.