Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (09/19/2008)
* WASHINGTON (9/22/08)--The Treasury Department announced a temporary guaranty program for U.S. money market mutual funds. The Treasury will insure the holdings of any publicly offered eligible money market mutual fund that pays a fee to participate in the program. The program “should enhance market confidence and alleviate investors’ concerns about the ability for money market mutual funds to absorb a loss. Concerns about the net asset value of money market funds falling below $1 have exacerbated global financial market turmoil and cause severe liquidity strains in world markets,” the Treasury said in a statement ... * WASHINGTON (9/22/08)--The Federal Deposit Insurance Corp. (FDIC) said it is committed to taking a “flexible supervisory approach” for institutions affected by the conservatorship of Fannie Mae and Freddie Mac. The agency said it will work with institutions that are required to develop a Capital Restoration Plan under the Prompt Corrective Action guidelines. The FDIC also will be flexible in considering requests for waivers from brokered deposit restrictions for institutions that have become adequately capitalized, the agency said in a financial institution letter ... * WASHINGTON (9/22/08)--Sen. Jack Reed (D-R.I.) said during a Thursday hearing that he wants regulators to tighten controls on off-balance sheet assets. More transparency is needed, he said (American Banker Sept. 19). Reed also supports the Financial Accounting Standards Board proposal to change the way banks count certain off-balance sheet assets--which would prevent special-purpose entities from being counted as assets. Reed noted that if firms keep off-balance sheet assets, they need to let investors know. Companies with more accurate accounting fare better in today’s marketplace than those who are slow to realize losses, he added ...


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
1 Day ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
11 hours ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 hours ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
13 hours ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
13 hours ago