Encouragement

The federal banking and thrift regulatory agencies issued a joint notice encouraging “all eligible institutions” to use the Treasury Department’s Capital Purchase Program (CPP) and the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program (TLGP). The agencies pointed out that the two programs complement one another and share a common goal — to restore capital flows to the consumers and businesses that form the core of our economy.

More Aid for Money Market Funds

The Federal Reserve Board announced the creation of the Money Market Investor Funding Facility (MMIFF) on October 21. The MMIFF is the Fed’s third program designed to provide liquidity to money market mutual funds.