To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. October 31, 2008 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:
This program is designed to attract broad participation by healthy institutions, to stabilize the financial system and increase lending for the benefit of the U.S. economy and the American people. After a financial institution is granted preliminary approval, the institution must complete and submit the securities purchase agreement, letter agreement, certificate of designations and warrant. Financial institutions that are granted preliminary approval will receive a letter from the Treasury Department with instructions regarding filing the documents and completing the process. Once the investment agreements are complete and the investment is authorized, within two business days Treasury will publicly disclose the name and capital purchase amount for the financial institution. The information will be posted at http://www.treasury.gov/initiatives/eesa/ and updated daily at 4:30 p.m. (EDT) as needed. All publicly traded eligible institutions wishing to participate should submit their applications no later than 5:00 p.m. (EDT), November 14, 2008. Treasury will post an application form and term sheet for privately held eligible institutions at a later date and establish a reasonable deadline for private institutions to apply. -30- REPORTS |
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