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Daily Archives: September 19, 2008

Federal Reserve Board announces enhancements to its programs to provide liquidity to markets

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“The Federal Reserve Board on Friday announced two enhancements to its programs to provide liquidity to markets. One initiative will extend non-recourse loans at the primary credit rate to U.S. depository institutions and bank holding companies to finance their purchases of high-quality asset-backed commercial paper (ABCP) from money market mutual funds. This should assist money funds that hold such paper in meeting demands for redemptions by investors and foster liquidity in the ABCP markets and broader money markets.
To further support market functioning, the Federal Reserve also plans to purchase from primary dealers federal agency discount notes, which are short-term debt obligations issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.”

Federal Reserve System: Transactions Between Member Banks and Their Affiliates

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Board of Governors of the Federal Reserve System. Interim final rule with request for public comment. Transactions Between Member Banks and Their Affiliates: Exemption for Certain Securities Financing Transactions Between a Member Bank and an Affiliate. [Federal Register: September 19, 2008 (Volume 73, Number 183)] [Rules and Regulations] [Page 54307-54309] SUMMARY: “In light of the… Continue Reading

Treasury Secretary Paulson Outlines Comprehensive Approach to Market Developments

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News release: “Treasury Secretary Paulson outlined a comprehensive approach to relieving the stresses on financial institutions and markets Friday. “Right now, our focus is restoring the strength of our financial system so it can again finance economic growth. The financial security of all Americans – their retirement savings, their home values, their ability to borrow… Continue Reading

Treasury Announces Guaranty Program for Money Market Funds

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News release: “The U.S. Treasury Department today announced the establishment of a temporary guaranty program for the U.S. money market mutual fund industry. For the next year, the U.S. Treasury will insure the holdings of any publicly offered eligible money market mutual fund – both retail and institutional – that pays a fee to participate… Continue Reading

New GAO Reports: OMB Briefing on HR Line of Business Initiative, Army Retirement Incentives

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Briefing on Observations on the Office of Management and Budget’s Report on the Human Resources Line of Business Initiative, GAO-08-1163R, September 19, 2008 Military Personnel: Evaluation Methods Linked to Anticipated Outcomes Needed to Inform Decisions on Army Retirement Incentives, GAO-08-1037R, September 18, 2008 Continue Reading

Report: Science and Technology for America's Progress: Ensuring the Best Presidential Appointments in the New Administration

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“The importance of research in solving many of our national challenges, including economic ones, was emphasized today in a new report titled Science and Technology for America’s Progress: Ensuring the Best Presidential Appointments in the New Administration. The report, sent to John McCain and Barack Obama with guidance for whomever is elected president in November,… Continue Reading

Bureau of Justice Statistics: Cybercrime Against Businesses, 2005

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Cybercrime against Businesses, 2005: “Presents the nature and prevalence of computer security incidents among 7,818 businesses in 2005. This is the first report to provide data on monetary loss and system downtime resulting from cyber incidents. It examines details on types of offenders, reporting of incidents to law enforcement, reasons for not reporting incidents, types… Continue Reading