Analytical Resources White Papers § Financial Regulation Reform: What to Expect in the 111th Congress, by James Hamilton (November 2008) (ip access user) § The Other Bailout: How the Fed is Financing the Financiers, and Related SEC Disclosure, by Mark S. Nelson (November 2008) (ip access user) § The Economic Bailout: An Analysis of the Emergency Economic Stabilization Act, by Katalina M. Bianco and John M. Pachkowski (October 2008) (ip access user) § Money Laundering and Mortgage Fraud: The Growth of a Merging Industry (Sept. 2008), by Katalina M. Bianco, J.D. (September 2008) (ip access user) § Market Crisis Focus on Short Selling: SEC Adopts Rules to Curb Abusive Practices, by James Hamilton (September 2008) (ip access user) § Comprehensive Housing Bill Signed into Law, by John M. Pachkowski (August 2008) (ip access user) § Congress Overhauls Regulatory Regime for Fannie Mae and Freddie Mac, by James Hamilton (August 2008) (ip access user) § The Subprime Lending Crisis: Causes and Effects of the Mortgage Meltdown, by Katalina M. Bianco (April 2008) (ip access user) § Treasury Releases Blueprint to Overhaul Financial Regulation (April 2008), John M. Pachkowski, J.D. (April 2008) (ip access user) § Foreclosure Rescue Scams Rise as Foreclosure Numbers Soar, by Katalina M. Bianco, J.D. (March 2008) (ip access user)
Journal Articles
§ Short Selling Under Fire, by Anna Pinedo and David Kaufman, Insights (November 2008) (ip access user)
§ Fair Value Accounting under Attack, by Lewis H. Ferguson III, Insights (October 2008) (ip access user)
Laws
§ Text of the Emergency Economic Stabilization Act of 2008 (Title I—Troubled Assets Relief Program, Title II—Budget Related Provisions and Title III—Tax Provisions), codified as 12 USC 5211–5261, is reflected in the “Bank Operations” division beginning at ¶7102 (ip access user). Amendments to the Federal Reserve Act, Federal Deposit Insurance Act and Truth in Lending Act have been put in place in the law divisions.
§ Text of Title V of the Housing and Economic Recovery Act of 2008 (Secure and Fair Enforcement for Mortgage Licensing Act of 2008), codified as 12 USC 5101—5116, is reflected in the “Consumer Compliance” division beginning at ¶4272 (ip access user). Amendments to the Federal Home Loan Bank Act, Truth in Lending Act, Federal Deposit Insurance Act, Servicemembers Civil Relief Act and the criminal code have been put in place in the law divisions.
Legislative Materials
§ Text of the Emergency Economic Stabilization Act of 2008, Public Law 110-343, Oct. 3, 2008, Oct. 3, 2008, ¶75-114 (ip access user)
§ Section-by-Section Analysis of the Emergency Economic Stabilization Act of 2008, Oct. 3, 2008, ¶75-119 (ip access user)
§ Summary of the Emergency Economic Stabilization Act of 2008, Oct. 3, 2008, ¶75-118 (ip access user)
§ House of Representatives Floor Debate of H.R. 1424—Emergency Economic Stabilization Act of 2008, Oct. 3, 2008, ¶75-117 (ip access user)
§ Senate Floor Debate of H.R. 1424—Emergency Economic Stabilization Act of 2008, Oct. 1, 2008, ¶75-116 (ip access user)
§ House of Representatives Floor Debate of H.R. 3997—Emergency Economic Stabilization Act of 2008, Sept. 29, 2008, ¶75-115 (ip access user)
§ Text of the Housing and Economic Recovery Act of 2008. Public Law 110-289, July 30, 2008, July 30, 2008, ¶75-113 (ip access user)
Federal Deposit Insurance Corporation § FDIC Adopts Final Rule to Implement its Temporary Liquidity Guarantee Program, Nov. 21, 2008, ¶95-568 (ip access user) § Mortgage Loan Modification Plan, Nov. 14, 2008, ¶63-820C (ip access user) § FDIC Amends Interim Liquidity Guarantee Program Regulations, Nov. 7, 2008, ¶95-530 (ip access user) § Temporary Liquidity Guarantee Program: Extension of Deadlines and Election Instructions, Nov. 3, 2008, ¶95-526 (ip access user) § Temporary Liquidity Guarantee Program: Interim Rule, Oct. 29, 2008, ¶95-499 (ip access user) § Temporary Liquidity Guarantee Program Established, Oct. 23, 2008, ¶95-489 (ip access user) § Capital Purchase Program Rule, Guidance Issued, Oct. 20, 2008, ¶95-477 (ip access user) § Deposit Insurance Regulations Amended to Increase Coverage and Simplify Mortgage Servicing Accounts, Oct. 17, 2008, ¶95-468 (ip access user) § FDIC Announces Temporary Liquidity Guarantee Program, Oct. 14, 2008, ¶95-461 (ip access user) § Deposit Insurance Coverage Limits Increase, Oct. 3, 2008, ¶54-656 (ip access user) § Washington Mutual Taken Over by FDIC, Assets Sold to JPMorgan Chase, Sept. 25, 2008, ¶95-419 (ip access user) § Statement on Investments in Fannie Mae and Freddie Mac Equity Securities, Sept. 18, 2008, ¶47-985 (ip access user) Federal Housing Finance Agency Rulemaking Releases § Proposed Amendment—Golden Parachute and Indemnification Payments, Nov. 14, 2008, ¶95-545 (ip access user) § Interim Rule Amends Affordable Housing Program Regulation to Preserve Homeownership under HOPE for Homeowners Program, Oct. 17, 2008, ¶95-469 (ip access user) § FHFA Establishes Factors for Golden Parachutes, Sept. 16, 2008, ¶95-396 (ip access user), Sept. 19, 2008, ¶95-401 (ip access user), Sept. 23, 2008, ¶95-407 (ip access user) § Federal Housing Finance Agency Established, Sept. 9, 2008, ¶95-390 (ip access user) Regulations § Regulations of the Federal Housing Finance Agency, a new independent agency with regulatory authority over Fannie Mae, Freddie Mac and the Federal Home Loan Banks, begin at ¶23-502 (ip access user) § Fed Creates Term Asset-Backed Securities Loan Facility, Nov. 25, 2008, ¶95-576 (ip access user) § Fed to Purchase Direct Obligations of Housing-Related GSEs, Nov. 25, 2008, ¶95-575 (ip access user) § Fed, Banco Central do Brasil, Banco de Mexico, Bank of Korea and Monetary Authority of Singapore Establish Temporary Reciprocal Currency Arrangements, Oct. 29, 2008, ¶95-504 (ip access user) § Federal Reserve and Reserve Bank of New Zealand § Correction to Interim Final Rule on Treatment of Perpetual Preferred Stock Issued to U.S. Treasury Under Emergency Economic Stabilization Act, Oct. 27, 2008, ¶95-491 (ip access user) § Board issues statement concerning its approval of the proposal by Wells Fargo and Company to acquire Wachovia Corporation, Oct. 21, 2008, ¶95-482 (ip access user) § Money Market Investor Funding Facility Created, Oct. 21, 2008, ¶95-481 (ip access user) § Interim final rule to allow bank holding companies to include senior perpetual preferred stock issued to the Treasury Department in Tier 1 capital, Oct. 22, 2008, ¶95-480 (ip access user) § Approval of proposal by Wells Fargo & Company to acquire Wachovia Corporation, Oct. 12, 2008, ¶95-457 (ip access user) § Board announces that it will begin to pay interest on depository institutions required and excess reserve balances, Oct. 9, 2008, ¶95-449 (ip access user) § Policy statement on equity investments in banks and bank holding companies, Sept. 23, 2008, ¶13-844 (ip access user) § Board issues statement concerning its approval of the proposal by Mitsubishi UFJ Financial Group to acquire voting shares of Morgan Stanley, Oct. 6, 2008, ¶95-438 (ip access user) § Fed Approves Interim Rules to Provide Liquidity to Markets, Sept. 26, 2008, ¶95-416 (ip access user), ¶95-417 (ip access user) § Goldman Sachs, Morgan Stanley Become Bank Holding Companies, Sept. 21, 2008, ¶101-046 (ip access user), ¶101-047 (ip access user) § Fed Increases the Capacity of Member Banks to Enter into Securities Financing Transactions with Affiliates, Sept. 19, 2008, ¶95-402 (ip access user) § Holding Company, Subsidiary Given Exemptions from Affiliate Transaction Limits, Capital Requirements, Apr. 1, 2008, ¶80-388 (ip access user) Government Accountability Office § 2009 Congressional and Presidential Transition -- Efficiently Managing and Overseeing the Troubled Asset Relief Program, Nov. 6, 2008, ¶95-532 (ip access user) § Agencies Urge Banks to Lend to Sound Borrowers, Nov. 12, 2008, ¶63-758 (ip access user) § Federal Reserve Board and Treasury Department announce restructuring of financial support to AIG, Nov. 10, 2008, ¶95-539 (ip access user) § Regulatory Capital Impact of Losses on Fannie Mae and Freddie Mac Preferred Stock, Oct. 24, 2008, ¶47-500 (ip access user), Oct. 31, 2008, ¶47-500A (ip access user) § Agencies Seek Public Comment on Proposed Rulemaking to Lower Risk Weights for Claims on, or Guaranteed by, Fannie Mae and Freddie Mac, Oct. 27, 2008, ¶95-490 (ip access user) § Deduction of Goodwill Net of Associated Deferred Tax Liability: Notice of Proposed Rulemaking, Sept. 30, 2008, ¶95-422 (ip access user) Office of the Comptroller of the Currency § OCC Conditionally Approves First National Bank “Shelf Charter” to Expand Pool of Qualified Bidders for Troubled Institutions, Nov. 21, 2008, ¶95-567 (ip access user) § Interim Rule on Bank Purchases of Asset-Backed Commercial Paper from Money Market Mutual Funds, Sept. 26, 2008 ¶95-414 (ip access user) § Applications Approved for JPMorgan Chase Bank to Acquire Assets and Liabilities from Washington Mutual Bank, Sept. 26, 2008, ¶95-421 (ip access user) § Application Approved for Morgan Stanley Bank to Convert to a National Bank, Sept. 21, 2008, ¶95-409 (ip access user) § Capital Purchase Program Rule, Guidance Issued, Oct. 20, 2008, ¶95-478 (ip access user) § President's Working Group announces initiatives to strengthen OTC derivatives oversight and infrastructure, Nov. 14, 2008, ¶95-554 (ip access user) Securities and Exchange Commission Releases § Temporary Exemption for Liquidation of Certain Money Market Funds, Release No. IC-28487 (Nov. 20, 2008), ¶88,410 (ip access user) § Disclosure of Short Sales and Short Positions by Institutional Investment Managers, Release No. 34-58785 (Oct. 15, 2008), ¶88,298 (ip access user) § Amendments to Regulation SHO: Options Market Maker Rule, Release No. 34-58775 (Oct. 14, 2008), ¶88,296 (ip access user) § “Naked” Short Selling Anti-Fraud Rule, Release No. 34-58774 (10-14, 2008), at ¶88,295 (ip access user) § Amendments to Regulation SHO: Temporary Closeout Rule, Release No. 34-58773 (Oct. 14, 2008), ¶88,297 (ip access user) § Emergency Order Temporarily Prohibiting Short Sales of Securities of Certain Financial Institutions, Release No. 34-58611 (Sept. 21, 2008), ¶88,278 (ip access user) § Emergency Order Temporarily Prohibiting Short Sales of Securities of Certain Financial Institutions, Release No. 34-57592 (Sept. 18, 2008), ¶88,277 (ip access user) § Emergency Order Concerning Institutional Investment Manager Disclosure on Form SH (technical amendments), Release No. 34-57591A (Sept. 21, 2008), ¶88,279 (ip access user) § Emergency Order Concerning Institutional Investment Manager Disclosure on Form SH, Release No. 34-57591 (Sept. 18, 2008), ¶88,276 (ip access user) § Emergency Order Concerning Issuer Repurchases, Release No. 34-58588 (Sept. 17, 2008), ¶88,275 (ip access user) § Emergency Order Concerning Short Sales, Release No. 34-58572 (Sept. 17, 2008), ¶88,274 (ip access user) Rules, Regulations and Forms § Rule 204T, Short Sales, ¶22,748R (ip access user) § Rule 10b-21, Deception in Connection with a Seller's Ability or Intent to Deliver Securities on the Date Delivery Is Due, ¶22,741 (ip access user) § Rule 10a-3T, Temporary Rule for Reporting Short Sales by Institutional Investment Managers, ¶22,684T (ip access user) § Rule 22e-3T, Temporary Exemption for Liquidation of Certain Money Market Funds, ¶48,792C (ip access user) § Form SH, ¶32,346 (ip access user) Staff Guidance and No-Action Letters § SEC Comments on FDIC’S Temporary Liquidity Program (Nov. 12, 2008), ¶95-574 (ip access user) § Treasury Department Releases a Report of Completed Transactions Under the Capital Purchase Program, Nov. 25, 2008, ¶95-580 (ip access user) § Paulson Comments on Consumer ABS Lending Facility, Nov. 25, 2008, ¶95-579 (ip access user) § Treasury Provides TARP Funds to Asset Banked Securities Facility, Nov. 25, 2008, ¶95-577 (ip access user) § IFI Reform Discussed by Treasury Official, Nov. 24, 2008, ¶95-572 (ip access user) § Treasury Announces Extension of Temporary Guarantee Program for Money Market Funds, Nov. 24, 2008, ¶95-571 (ip access user) § Agencies Issue Joint Statement on Citigroup, Nov. 23, 2008, ¶95-569 (ip access user) § Kashkari Remarks on Implementation of the EESA, Nov. 19, 2008, ¶95-566 (ip access user) § Paulson Addresses Financial Crisis in Opinion Piece, Nov. 18, 2008, ¶95-560 (ip access user) § Treasury Releases Capital Purchase Program Term Sheet for Privately Held Financial Institutions, Nov. 17, 2008, ¶95-558 (ip access user) § Treasury Issues Tranche Report Under EESA, Nov. 14, 2008, ¶95-573 (ip access user) § Treasury Department Responds to Claimed Lack of Oversight, Nov. 13, 2008, ¶95-548 (ip access user) § Paulson Remarks on Financial Rescue Package and Economy, Nov. 12, 2008, ¶95-544 (ip access user) § First Tranche Report Under EESA Published, Nov. 4, 2008, ¶95-540 (ip access user) § Treasury to Invest in AIG Restructuring Under the Emergency Economic Stabilization Act, Nov. 10, 2008, ¶95-539 (ip access user) § Treasury Announces Solicitation for Financial Agents, Nov. 7, 2008, ¶95-538 (ip access user) § Interim Assistant Secretary for Financial Stability Neel Kashkari Remarks at the SIFMA Summit on the TARP, Nov. 10, 2008, ¶95-533 (ip access user) § Completed Transactions Under the Capital Purchase Program, Oct. 29, 2008, ¶95-528 (ip access user) § Additional Information on Capital Purchase Program Issued, Oct. 31, 2008, ¶95-512 (ip access user)—¶95-519 (ip access user) § Treasury, IRS Issue Guidance on Fannie and Freddie Preferred Stock, Oct. 29, 2008, ¶95-505 (ip access user) § Capital Purchase Program Rule, Guidance Issued, Oct. 20, 2008, ¶95-479 (ip access user § Guides on EESA Procurement Opportunities, Oct. 20, 2008, ¶95-475 (ip access user) § Interim Final Rule Provides Guidance on the Executive Compensation, Oct. 20, 2008, ¶95-474(ip access user) § Treasury Hires Advisers Under the Emergency Economic Stabilization Act (EESA), Oct. 15, 2008, ¶95-460 (ip access user), Oct. 16, 2008, ¶95-473 (ip access user), Oct. 21, 2008, ¶95-483 (ip access user), Oct. 22, 2008, ¶95-484 (ip access user), Nov. 3, 2008, ¶95-527 (ip access user) § Treasury Requests Public Input on Establishment of Guaranty Program for Troubled Assets, Oct. 14, 2008, ¶95-464 (ip access user) § Treasury Department Announces Executive Compensation Rules under EESA, Oct. 14, 2008, ¶95-463 (ip access user) § Treasury Department Announces Capital Purchase Program, Oct. 14, 2008, ¶95-462 (ip access user) § Treasury Department Assistant Secretary Kashkari Remarks on Troubled Asset Relief Program, Oct. 13, 2008, ¶95-459 (ip access user) § Treasury Department Secretary Paulson Issues Statement Following Meeting of G7 Finance Ministers and Central Bank Governors, Oct. 10, 2008, ¶95-458 (ip access user) § Minutes of the Financial Stability Oversight Board Meeting, Oct. 7, 2008, ¶95-541 (ip access user) § Treasury Department Moves on Asset Purchase Plan, Oct. 6, 2008, ¶95-440 (ip access user)—¶95-446 (ip access user) § Fannie Mae, Freddie Mac Control Shifts to Government, Sept. 8, 2008, ¶95-386 (ip access user)—¶95-389 (ip access user) § Blueprint to Modernize Financial Regulation Unveiled by Treasury Department, Mar. 31, 2008, ¶95-204 (ip access user)
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