On October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008 (EESA). As part of the EESA, the Treasury Department has developed a Capital Purchase Program (CPP) to purchase up to $250 billion in senior preferred stock from qualifying financial institutions. The CPP was designed to strengthen the capital and liquidity positions of viable organizations and to encourage banks to increase lending to creditworthy borrowers.
News Release: Treasury, Regulators Issue Guidance on Capital Purchase Program
Agencies Encourage Participation in Treasury’s Capital Purchase Program and FDIC’s Temporary Liquidity Guarantee Program
Application Form and Guidelines (link to external website) - http://www.treas.gov/initiatives/eesa/docs/application-guidelines.pdf
FAQ (link to external website) - http://www.treas.gov/initiatives/eesa/faq-cpp.shtml
Applications for the CPP must be submitted to OTS through secure e-mail. Use http://www.ots.treas.gov/_apps/cpp.cfm to initiate a secure correspondence with OTS.
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