Treasury regulations for the bailout

I see today that the federal government has gotten around to writing regulations for the bailout.

FR Doc E8-25555:

"SUMMARY: On September 7, 2008, the U.S. Department of Treasury (Treasury) entered into senior preferred stock purchase agreements (the Agreement or Agreements) with the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), which effectively provide protection to the holders of senior debt, subordinated debt, and mortgage-backed securities (MBS) issued or guaranteed by these entities. In light of the financial support provided under the Agreements, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) (collectively, the agencies) are [[Page 63657]] proposing to adopt a 10 percent risk weight for claims on, and the portion of claims guaranteed by, Fannie Mae or Freddie Mac. The 10 percent risk weight would apply so long as an Agreement remains in effect with the respective entity. DATES: Comments must be received by November 26, 2008."

Capital Adequacy Guidelines: Treatment of Perpetual Preferred Stock Issued to the United States Treasury Under the Emergency Economic Stabilization Act of 2008

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Correcting amendments.

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SUMMARY: The Board published an interim final rule with request for
public comment in the Federal Register on October 22, 2008 ( 73 FR 62851), providing that bank holding companies that issue new senior perpetual preferred stock to the U.S Department of Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008, may include such capital instruments in Tier 1 capital for purposes of the Board's risk-based and leverage capital rules and guidelines for bank holding companies. The Public Law was cited incorrectly. This document corrects the citation in footnote 1 of the Supplementary Information and in the interim final regulation by revising these sections. DATES: Effective October 27, 2008. public comment in the Federal Register on October 22, 2008 ( 73 FR 62851), providing that bank holding companies that issue new senior perpetual preferred stock to the U.S Department of Treasury under the capital purchase program announced by the Secretary of the Treasury on October 14, 2008, may include such capital instruments in Tier 1 capital for purposes of the Board's risk-based and leverage capital rules and guidelines for bank holding companies. The Public Law was cited incorrectly. This document corrects the citation in footnote 1 of the Supplementary Information and in the interim final regulation by revising these sections. DATES: Effective October 27,

2008.

Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction

This notice corrects a notice (FR Doc. E8-24173) published on page
60285 of the issue for Friday, October 10, 2008.
Under the Federal Reserve Bank of Kansas City heading, the entry
for Lindoe, Inc., Ordway, Colorado, is revised to read as follows:
A. Federal Reserve Bank of Kansas City (Todd Offenbacker, Assistant
Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001:
1. Lindoe, Inc., Ordway, Colorado, to acquire 51 percent of the
voting shares of Southern Colorado National Bancorporation, Inc., and
thereby indirectly acquire voting shares of Southern Colorado National
Bank, both of Pueblo, Colorado.
Comments on this application must be received by November 6, 2008.

Board of Governors of the Federal Reserve System, October 22,
2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8-25509 Filed 10-24-08 8:45 am]