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Results: 1-10 of 56

Treasury and HUD release June HAMP report and July Monthly Housing Scorecard
  • Alston & Bird LLP
  • USA
  • July 20 2010

Yesterday, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) released the June report under the Home Affordable Modification Program (HAMP


Treasury, Federal Reserve, FDIC and OCC issue joint statement regarding Supervisory Capital Assessment Program, Capital Assistance Program and repayments of CPP funding
  • Alston & Bird LLP
  • USA
  • May 6 2009

This afternoon, the Treasury Department, Federal Reserve, FDIC and OCC issued a joint statement addressed a variety of questions arising under the pending Supervisory Capital Assessment Program (SCAP) and its interrelationship with Treasury's Capital Assistance Program (CAP


Geithner: "the financial system is starting to heal"
  • Alston & Bird LLP
  • USA
  • May 13 2009

In a speech this morning before the Independent Community Bankers of America (ICBA), while acknowledging that "the process of financial recovery and repair is going to take time," Treasury Secretary Geithner cited several key metrics that indicated that "the financial system is starting to heal"


Fannie Mae reports $23.2 billion first quarter loss and need for additional $19 billion capital injection from Treasury
  • Alston & Bird LLP
  • USA
  • May 9 2009

Yesterday, Fannie Mae reported a $23.2 billion loss for the first quarter of 2009, the seventh straight quarterly loss, resulting in a net worth deficit of $18.9 billion (after taking into account a decrease in unrealized losses on available-for-sale securities


Repurchases of senior preferred stock held by Treasury: a critical decision for CPP participants
  • Alston & Bird LLP
  • USA
  • May 11 2009

The repurchase of senior preferred stock sold to the U.S. Treasury Department under the Capital Purchase Program (CPP) is coming to the forefront as a critical and possibly unavoidable decision for every banking organization that has participated in the CPP


Bernanke defends stress tests
  • Alston & Bird LLP
  • USA
  • May 12 2009

In a speech last night at the Federal Reserve Bank of Atlanta's Financial Markets Conference, Federal Reserve Chairman Ben Bernanke acknowledged that "projecting credit losses in an uncertain economic environment is difficult, to say the least," but nonetheless expressed confidence in the results of the Supervisory Capital Assessment Program (SCAP) given "the intensive, painstaking nature" of the assessment process


Treasury releases completed transactions report, including additional loans to Chrysler and GM
  • Alston & Bird LLP
  • USA
  • May 22 2009

Today, Treasury released a completed transaction report disclosing that two financial institutions had repurchased an aggregate of $77,193,000 of preferred stock issued to Treasury under the Capital Purchase Program (CPP), and one other financial institution that had previously repurchased Treasury's preferred stock paid an additional $1,200,000 to purchase Treasury's warrants, reducing Treasury’s total investment in financial institutions under the CPP (net of repayments) to $197,869,419,000


AIG files preliminary proxy statement disclosing new director nominees and planned departure of CEO
  • Alston & Bird LLP
  • USA
  • May 22 2009

Yesterday, American International Group, Inc. (AIG) filed a preliminary proxy statement with the the SEC for its upcoming annual meeting of stockholders


SEC announces roundtable on securities lending and short sales
  • Alston & Bird LLP
  • USA
  • September 13 2009

The SEC announced it will hold a roundtable about securities lending on September 29 and a roundtable on short sale issues on September 30


FOMC issues upbeat outlook
  • Alston & Bird LLP
  • USA
  • September 23 2009

Today, the Federal Reserve's Federal Open Market Committee (FOMC) issued a statement that included a somewhat more upbeat assessment of the prospects for economic recovery than prior FOMC statements