On Monday, Treasury Secretary Paulson provided an update on the Treasury's capital purchase program being implemented under the broad authority of the Emergency Economic Stabilization Act. Under this program, the Treasury will purchase up to $250 billion of senior preferred stock of qualifying US banks, S&L's, financial holding companies, bank holding companies and S&L holding companies. The deadline for submission of applications to participate in the program is 5:00 p.m. (EST), November 14, 2008.

If you would like to know more about any of the topics mentioned above, please contact the White & Case lawyer with whom you regularly discuss these matters or any of the following lawyers:  

Glen R. Cuccinello 
Counsel
+ 1 212 819 8239

 
Maureen D. Donovan 
Partner
+ 1 212 819 8557

 
Duane D. Wall 
Partner
+ 1 212 819 8453

 
Eric S. Yoon 
Partner
+ 1 212 819 8677

Abraham L. Zylberberg 
Partner
+ 1 212 819 8500

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