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The FDIC’s Temporary Liquidity Guarantee Program (the TLG Program), which guarantees certain senior unsecured debt issued by eligible banking institutions and provides unlimited deposit...
New rules on deferred compensation, enacted as part of the Emergency Economic Stabilization Act of 2008 on October 3, 2008, may have a much broader scope than originally anticipated. Thes...
On October 3, 2008, the President signed into law the Emergency Economic Stabilization Act of 2008 (the “Act”), which authorizes the U.S. Department of Treasury (“Treasury”) to ac...
The Emergency Economic Stabilization Act of 2008 (“EESA”), which President Bush signed on October 3, added Section 457A to the Internal Revenue Code. Under the new provision, managers...
As reported in previous Davis Polk communications, the SEC’s emergency orders requiring large institutional investment managers to report short sales in Section 13(f) securities on Form...
In the wake of intense pressure in the global credit markets and continued turmoil in the stock markets, the US Treasury Department, in coordination with other G-7 governments, yesterday ...
On October 5, 2008, Lehman Commercial Paper Inc. (“LCPI”) filed a motion for protection under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for...
The Federal Reserve Board announced today the creation of a commercial paper funding facility to help provide liquidity to short-term funding markets. The facility enables the Federal Res...
Pursuant to the Emergency Economic Stabilization Act of 2008 (the “EESA”), the U.S. Department of the Treasury has formally begun soliciting asset managers and other agents for the Tr...