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Banking and
Financial Institutions Law Update November 10, 2008
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Team Members
William G. Asimakis,
Jr.
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UNDER THE
"TARP"
TROUBLED ASSET RELIEF PROGRAM
The U.S. Treasury Department released a
notice to financial institutions on Friday, November
7, soliciting asset management services for Treasury's portfolio of
equity securities, debt obligations and warrants issued by financial
institutions participating in the Capital Purchase Program
("CPP"). Among other things, eligible managers must
be "Financial Institutions" as defined in the Emergency
Economic Stabilization Act of 2008 and must currently have at least
$100 million in dollar-denominated assets under management.
Responses to the Treasury's solicitation must be submitted no later
than 5:00 (EST) on November 13, 2008.
Click
here to read Clark Hill's prior articles
regarding TARP and CPP.
Clark Hill will strive to keep you consistently updated and
informed about the Troubled Asset Relief Program and the government's
evolving response to the turmoil in our capital markets. Please
contact one of our Clark Hill banking and financial institutions team
members should you have any questions about TARP, the CPP or the
Treasury's latest solicitation of services.
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To find out
more about Clark Hill and our Banking and Financial Institutions
Law Group, visit clarkhill.com
or call 800.949.3124
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