Congress passed legislation for the Emergency Economic Stabilization Act of 2008 (the ?Act?), and the President promptly signed the bill into law. The Act is designed to restore liquidity and stability to the credit markets and includes a wide range of measures, including temporarily increasing the limit on FDIC deposit insurance to $250,000. But key measures of the Act must be implemented by the Department of the Treasury (?Treasury?). The actual mechanisms for transactions in troubled assets will remain undefined until Treasury implements rules and guidelines for the particular programs.

See full update for an Overview of Transactions Involving Troubled Assets.