financial regulatory chart · · 2015-12-30financial regulatory chart financial stability plan...

Asset Backed Commercial Paper Money Market MutualFund Liquidity

Facility(AMLF)

Legislation

Accounting Issues

Temporary Liquidity

Guarantee Program(TLGP)

Temporary Increase of

Deposit Insurance

Commercial Paper Funding

Facility(CPFF)

Money Market Investor

Funding Facility(MMIFF)

Federal Deposit

Insurance

Corporation

Federal Reserve

Board

Emergency Economic

Stabilization Act

(EESA)

Troubled Asset Relief Program

(TARP)

Treasury

Additional Resources

Loan Modification

Program Guide (Mod in a Box)

Created by:

Jeremy Hochberg and Angela McPherson

Date last updated:

August 9, 2010

Please send updates to:

[email protected]

For detailed legal analysis, see the

Economic Recovery resource page

© 2010 Arnold & Porter LLP

Term Asset-Backed

Securities Loan Facility

(TALF)

FINANCIAL REGULATORY CHART

Financial Stability Plan

(FSP)

Restructuring of Regulators

Housing Affordability and Stability

Plan(HASP) –

Making Home Affordable

(MHA)

Capital Assistance Program

(CAP)

Public Private InvestmentProgram(PPIP)

Arnold & Porter Client Advisories

http://www.fdic.gov/deposit/deposits/changes.html




http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f:h1424enr.txt.pdf






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mailto:[email protected]

http://www.arnoldporter.com/practices.cfm?u=&action=view&id=864

http://www.arnoldporter.com/publications.cfm?action=search&search_practice_id=891&search_publication_type_id=advisory&expand_section=advisory

http://www.arnoldporter.com/publications.cfm?action=search&search_practice_id=891&search_publication_type_id=advisory&expand_section=advisory

Treasury

Emergency Economic

Stabilization Act

(EESA)


(TARP)


Return to First Page of Chart

•Capital Purchase Program (CPP)

•Troubled Assets Insurance Funding

Facility (TAIFF)

•Targeted Investment Program (TIP)

•Systematically Significant Failing

Institutions (SSFI)

•Automotive Industry Financing Program

(AIFP)

•Tax Guidance

•Executive Compensation Guidance

•100 Day Progress Report







http://www.treas.gov/press/releases/reports/100daysreport_042909.pdf


Capital Purchase Program

(CPP)


(TARP)

Emergency Economic

Stabilization Act

(EESA)

Treasury


•Publicly Held Institutions

•Privately Held Institutions

•S Corporations

•Mutual Holding Companies

•Mutual Banks

•FAQs Addressing CPP Changes

•FAQs on CPP Repayment and Capital Assistance Program

•FAQs Regarding CPP for Small Banks

•Contracts

•Completed Transactions







http://www.treas.gov/press/releases/reports/CPP-FAQs.pdf




http://financialstability.gov/docs/FAQ_CPP-CAP.pdf





http://financialstability.gov/docs/CPP/FAQonCPPforsmallbanks.pdf




http://financialstability.gov/impact/contracts_list.htm

http://financialstability.gov/impact/transactions.htm

Treasury

Emergency Economic

Stabilization Act

(EESA)


(TARP)


(CPP)



•Contracts (7/17/09)

•Completed Transactions (6/26/09)

•Application Documents (4/14/09)

•Fact Sheet (3/17/09)

•FAQs on Capital Purchase Program Repayment

•FAQs – Logistics (2/26/09)

•FAQs – Additional guidance on repayments (5/09)

•Capital Purchase Program Repayment Documents

•Repurchase Document for Public Institutions

•Repurchase Document for Private Institutions

•Repurchase Document for Warrants for Public Institutions

•Repurchasing Warrants under the CPP Contract (6/26/09)

•FAQs on Capital Purchase Program Expansion for Small Banks

•FAQs on Capital Assistance Program








http://financialstability.gov/impact/transactions.htm

http://financialstability.gov/roadtostability/CPPappdocs.html

http://financialstability.gov/roadtostability/CPPfactsheet.htm

http://financialstability.gov/docs/CPP/CPP-FAQs.pdf




http://financialstability.gov/docs/CPP/FAQ_CPP_guidance.pdf




http://financialstability.gov/docs/CPP/UST Acknowledgement of Repurchase (Public Issuers).pdf

http://financialstability.gov/docs/CPP/UST Acknowledgement of Repurchase (Private Issuers).pdf

http://www.financialstability.gov/docs/UST Acknowledgement of Repurchase of Warrant by Issuer.pdf

http://financialstability.gov/docs/CPP/Warrant-Statement.pdf





http://financialstability.gov/docs/CPP/FAQ_CAP.pdf

Treasury

Emergency Economic

Stabilization Act

(EESA)


(TARP)


(CPP)

S Corporations



•FAQs (3/12/09)

•Term Sheet (1/14/09)

•Securities Purchase Agreement

•Form of Letter Agreement

•Form of Opinion

•Form of Senior Subordinated Securities

•Form of Waiver

•Form of Warrant

•Form of Warrant Senior Subordinated Securities







http://www.financialstability.gov/roadtostability/CPPappdocs_faq3.htm

http://www.financialstability.gov/docs/CPP/scorp-term-sheet.pdf

http://www.financialstability.gov/docs/CPP/scorp-term-sheet.pdf

http://www.financialstability.gov/docs/CPP/Securities Purchase Agreement.pdf

http://www.financialstability.gov/docs/CPP/Securities Purchase Agreement.pdf

http://www.financialstability.gov/docs/CPP/Form of Letter Agreement.pdf

http://www.financialstability.gov/docs/CPP/Form of Opinion.pdf

http://www.financialstability.gov/docs/CPP/Form of Senior Subordinated Securities.pdf

http://www.financialstability.gov/docs/CPP/Form of Waiver.pdf

http://www.financialstability.gov/docs/CPP/Form of Warrant.pdf

http://www.financialstability.gov/docs/CPP/Form of Warrant Senior Subordinated Securities.pdf


Treasury


Emergency Economic

Stabilization Act

(EESA)


(TARP)


(CPP)

Mutual Holding

Companies

•Senior Preferred Terms

•Preferred Terms

•Senior Securities Terms

•FAQs







http://www.financialstability.gov/docs/CPP/MHC_Senior_Preferred_Terms.pdf

http://www.financialstability.gov/docs/CPP/MHC_Preferred_Terms.pdf

http://www.financialstability.gov/docs/CPP/MHC_Senior_Securities_Terms.pdf

http://www.financialstability.gov/docs/CPP/MHC_faqs.pdf


Treasury

Emergency Economic

Stabilization Act

(EESA)


(TARP)


(CPP)

Mutual Banks

•Term Sheet

•FAQs








http://www.financialstability.gov/docs/CPP/CPP Term Sheet - Mutual Banks.pdf

http://www.financialstability.gov/docs/CPP/Final CPP Mutual Bank FAQs.pdf


Troubled Assets

Insurance Funding Facility(TAIFF)

Treasury


Emergency Economic

Stabilization Act

(EESA)


(TARP)

http://treas.gov/press/releases/hp1212.htm













Treasury


Targeted Investment Program

(TIP)

Contract: Citigroup


Emergency Economic

Stabilization Act

(EESA)


(TARP)

http://financialstability.gov/docs/TIP/Citigroup_12312008.pdf

http://financialstability.gov/docs/TIP/Citigroup_12312008.pdf







Treasury


Systematically Significant

Failing Institutions

(SSFI)


Emergency Economic

Stabilization Act

(EESA)


(TARP)

Contracts

http://financialstability.gov/roadtostability/programs.htm















Treasury


Automotive Industry

Financing Program(AIFP)


Emergency Economic

Stabilization Act

(EESA)


(TARP)

•Chrysler-Fiat Alliance Fact Sheet (4/30/09)

•Auto Supplier Support Program Fact Sheet

•Guidelines for Automotive Industry Financing Program

•GM & Chrysler Restructuring Fact Sheet







http://financialstability.gov/docs/AIFP/Chrysler-restructuring-factsheet_043009.pdf



http://financialstability.gov/latest/supplier_support_program_3_18.pdf

http://financialstability.gov/docs/AIFP/AIFP_guidelines.pdf

http://financialstability.gov/docs/AIFP/autoFactSheet.pdf


Tax Guidance

Treasury


Emergency Economic

Stabilization Act

(EESA)


(TARP)

•Revenue Procedure 2008-64 – Treatment of Fannie Mae and Freddie Mac Preferred Stock

•Notice 2008-94 – Executive Compensation Limits

•Notice 2008-100 – Treatment of Losses Under the CPP

•Notice 2008-101 – Clarification of Troubled Asset Relief Program Funds Under Section 597

http://www.treas.gov/initiatives/eesa/taxguidance.shtml







http://www.financialstability.gov/docs/RevProc200864.pdf






http://www.irs.gov/irb/2008-44_IRB/ar08.html






http://www.irs.gov/pub/irs-drop/n-08-100.pdf













Treasury


Executive Compensation

Guidance


Emergency Economic

Stabilization Act

(EESA)


(TARP)

•Interim Final Rule on TARP Standars for Compensation and Corporate

Governance (6/15/09)

http://www.treas.gov/initiatives/eesa/executivecompensation.shtml









http://edocket.access.gpo.gov/2009/pdf/E9-13868.pdf





Treasury


Financial Stability

Plan


•Joint Statement (2/10/09)

•Fact Sheet

•New Restrictions of Executive Compensation (2/4/09)

•New Policy to Increase Transparency (1/28/09)

•New Rules to Limit Lobbyist Influence in Federal Investment Decisions (1/27/09)

http://www.ustreas.gov/press/releases/tg21.htm

http://financialstability.gov/docs/fact-sheet.pdf

http://treas.gov/press/releases/tg15.htm



Treasury


Housing Affordability and Stability

Plan(HASP) –

Making Home Affordable

(MHA)

•MHA Program Report (10/9/09)

•Contracts (7/17/09)

•Counselor Q&A (3/4/09; revised 7/13/09)

•Fact Sheet (3/4/09)

•Summary of Guidelines (3/4/09)

•Modification Program Guidelines (3/4/09)



(FSP)

http://www.treas.gov/press/releases/docs/MHA Public 100809 Final.pdf



http://www.financialstability.gov/docs/counselor_qa.pdf

http://www.treas.gov/press/releases/reports/housing_fact_sheet.pdf

http://www.treas.gov/press/releases/reports/guidelines_summary.pdf

http://www.treas.gov/press/releases/reports/modification_program_guidelines.pdf

Treasury



Capital Assistance Program

(CAP)

•White Paper

•Term Sheet

•FAQs

•Application Guidelines

•FAQs on Capital Purchase Program Repayment and Capital

Assistance Program


(FSP)

http://www.treas.gov/press/releases/reports/tg40_capwhitepaper.pdf

http://www.treas.gov/press/releases/reports/tg40_captermsheet.pdf

http://www.treas.gov/press/releases/reports/tg40_cap_faq.pdf

http://www.financialstability.gov/docs/CAP_App-Guidelines.pdf

http://www.treas.gov/initiatives/eesa/docs/CAP_App-Guidelines.pdf





Treasury


(FSP)

Public Private InvestmentProgram(PPIP)

•White Paper

•Summary of Conflicts of Interest Rules and Ethical Guidelines

•Legacy Loans Fact Sheet

•Legacy Loans Summary of Terms

•Legacy Loans FAQs

•Legacy Securities Summary of Terms

•Legacy Securities FAQs


http://www.treas.gov/press/releases/reports/ppip_whitepaper_032309.pdf

http://financialstability.gov/docs/PPIP_Conflict-of-Interest-Rules.pdf

http://www.treas.gov/press/releases/reports/ppip_fact_sheet.pdf

http://www.treas.gov/press/releases/reports/legacy_loans_terms.pdf


http://www.treas.gov/press/releases/reports/legacy_loans_faqs.pdf

http://www.treas.gov/press/releases/reports/legacy_securities_terms.pdf

http://www.treas.gov/press/releases/reports/legacy_securities_faqs.pdf


Temporary Liquidity


FDIC


•Interim Rule to Extend Transaction Account Guarantee

Program (TAG) (4/19/10)

•Monthly Reports on Debt Issuance (7/09)

•Opt Out Lists (5/6/09)

•Sample Election Form (4/30/09)

•Interim Rule – Mandatory Convertible Debt (3/4/09)

•Frequently Asked Questions (1/12/09)

•Final Rule Regarding the TLGP (11/26/08)

•Amendment to the Interim Rule on TLGP (11/7/08)

•Briefing Transcripts

•Financial Institution Letters

•Election Form Instructions

•Master Agreement

•Interim Rule on TLGP

•Interim Rule – Extension and Surcharge

http://www.fdic.gov/regulations/resources/TLGP/index.html






http://www.fdic.gov/regulations/laws/federal/2010/10interim419.pdf

http://www.fdic.gov/regulations/laws/federal/2010/10interim419.pdf

http://www.fdic.gov/regulations/resources/TLGP/reports.html

http://www.fdic.gov/regulations/resources/TLGP/reports.html

http://www.fdic.gov/regulations/resources/TLGP/optout.html

http://www.fdic.gov/news/news/financial/2008/fil08125b.pdf

http://www.fdic.gov/regulations/laws/federal/2009/09InterimAD37.pdf




http://www.fdic.gov/regulations/resources/TLGP/faq.html

http://www.fdic.gov/news/board/08BODtlgp.pdf

http://www.fdic.gov/news/board/08BODtlgp.pdf

http://www.fdic.gov/regulations/laws/federal/2008/08TLGPamendment.pdf

http://www.fdic.gov/regulations/laws/federal/2008/08TLGPamendment.pdf

http://www.fdic.gov/news/news/financial/2008/fil08125a.pdf

http://www.fdic.gov/regulations/resources/TLGP/master.pdf

http://www.fdic.gov/news/board/27Feb09_Interim_Rule_TLGP.pdf



http://www.fdic.gov/news/board/Mar1709rule.pdf




FDIC

Financial Institution Letters


Temporary Liquidity


•Changes to Debt Guarantee Program Reporting Requirements (3/23/09)

•Temporary Liquidity Guarantee Program: Guidance to Periodic Debt Balance Reporting (12/12/09)

•Revisions to Regulatory Reports Filed by FDIC-Insured Depository Institution (12/11/08)

•Temporary Liquidity Guarantee Program: Debt Guarantee Program - Debt Instrument Reporting (12/8/08)

•FDIC Board of Directors Adopts Final Rule (11/21/08)

•Extension of Deadlines and Election Instructions (11/3/08)

•Interim Rule (10/23/08)

•FDIC Announces Temporary Program to Encourage Liquidity and Confidence in the Banking System (10/15/08)








http://www.fdic.gov/news/news/financial/2009/fil09015.html













FDIC

Briefing Transcripts


Temporary Liquidity


•Teleconference (10/16/08)

•Morning Teleconference (10/14/08)

•Afternoon Teleconference (10/14/08)








http://www.fdic.gov/regulations/resources/TLGP/101608.html

http://www.fdic.gov/regulations/resources/TLGP/101408_am.html

http://www.fdic.gov/regulations/resources/TLGP/101408_pm.html

Loan Modification Program (Mod in a Box)

FDIC


•Loan Modification Program

•Counseling Compensation Agreement

•Net Present Value Worksheet

•Sample Grid for Determining Purchase and Servicing Agreement Modification Parameters

•Loan Modification Reporting

•Loss Sharing Proposal to Promote Affordable Loan Modifications


http://www.fdic.gov/consumers/loans/loanmod/loanmodguide.html



http://www.fdic.gov/consumers/loans/loanmod/FDICLoanMod.pdf

http://www.fdic.gov/consumers/loans/loanmod/counselingagreement.doc

http://www.fdic.gov/consumers/loans/loanmod/NPV.xls

http://www.fdic.gov/consumers/loans/loanmod/samplegrid.doc

http://www.fdic.gov/consumers/loans/loanmod/loanmodreportingtemplate.xls

http://www.fdic.gov/consumers/loans/loanmod/index.html


Asset Backed Commercial Paper Money Market Mutual Fund Liquidity

Facility(AMLF)

Federal Reserve Board


•Program Terms and Conditions (6/25/09)


http://www.federalreserve.gov/monetarypolicy/abcpmmmf.htm








http://www.frbdiscountwindow.org/mmmftc.cfm?hdrID=14&dtlID

http://www.frbdiscountwindow.org/mmmf.cfm?hdrID=14


Commercial Paper Funding

Facility(CPFF)





•Daily Rates

http://www.federalreserve.gov/monetarypolicy/cpff.htm





http://www.newyorkfed.org/markets/CPFF_Terms.html

http://www.newyorkfed.org/markets/cpff_faq.html

http://www.newyorkfed.org/markets/cpff/cpff.cfm


Money Market Investor Funding Facility

(MMIFF)





http://www.newyorkfed.org/markets/mmiff.html






http://www.federalreserve.gov/moneytarypolicy/mmiff.htm

http://www.newyorkfed.org/markets/mmiff_terms.html

http://www.newyorkfed.org/markets/mmiff_faq.html




Term Asset-Backed

Securities Loan Facility

(TALF)

•Terms and Conditions (7/2/09)

•Documents and Forms (7/2/09)


•Master Loan and Security Agreement (7/2/09)

•Form of Certification as to TALF Eligibility (6/9/09)

•TALF Investor’s Guide (4/28/09)

http://www.federalreserve.gov/newsevents/press/monetary/20081125a.htm






http://www.newyorkfed.org/markets/talf_terms.html

http://newyorkfed.org/markets/talf_docs.html

http://www.newyorkfed.org/markets/talf_faq.html

http://www.newyorkfed.org/markets/talf_docs.html

http://www.newyorkfed.org/markets/Form_Certification_TALF_Eligibility.pdf




http://newyorkfed.org/markets/talf_guide.html




Legislative Proposals

Enacted Legislation

•Dodd-Frank Wall Street Reform and Consumer Protection Act (final

as passed by the House and Senate on 7/15/10)

•Senate Bill, H.R. 4173 (“Restoring American Financial Stability Act

of 2010”) (as passed on 5/20/10; formerly S. 3217)

•House Bill, H.R. 4173 (“Wall Street Reform and Consumer

Protection Act”) (as passed on 12/11/09)

•Obama Administration Legislation Proposal - Consumer Financial

Protection Agency Act of 2009

•Rep. Frank – HR 3126

•H.R. 37 and H.R. 73: Companion Bills (“Systematic Foreclosure

Prevention and Mortgage Modification Act of 2009”)

•H.R. 607 (“To Direct the Securities and Exchange Commission to

Issue Guidance on the Interpretation of Fair Value Accounting”)

•Resolution Authority for Systemically Significant Financial

Companies Act of 2009

•H.R. 384 (“TARP Reform and Accountability Act of 2009”)

•PL 111-5 (“American Recovery and Reinvestment Act of 2009”)

•H.R. 1106 (“Helping Families Save Their Homes Act of 2009”)

http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.4173:



http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h4173pp.txt.pdf

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h4173pp.txt.pdf

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h4173eh.txt.pdf

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h4173eh.txt.pdf

http://financialstability.gov/docs/CFPA-Act.pdf





http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h3126ih.txt.pdf




http://www.opencongress.org/bill/111-h37/text




http://www.house.gov/apps/list/hearing/financialsvcs_dem/legislation3_25_09.pdf

http://www.house.gov/apps/list/hearing/financialsvcs_dem/legislation3_25_09.pdf


http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf







Restructuring of Regulators

•Proposed Legislation:

• Administration’s Regulatory Reform Agenda Moves Forward: Legislation for Strengthening Consumer Protection Delivered to Capitol Hill

(6/30/09)

• Title X – Consumer Financial Protection Agency Act of 2009

• Title XI – Improvements to the Federal Trade Commission Act

•Obama Administration’s White Paper: Financial Regulatory Reform - A New Foundation Rebuilding Financial Supervision and Regulation (6/17/09)

• Obama Administration’s White Paper: Executive Summary

•Obama Administration’s Fact sheets:

• Requiring Strong Supervision And Appropriate Regulation Of All Financial Firms

• Strengthening Regulation Of Core Markets And Market Infrastructure

• Strengthening Consumer Protection

• Providing The Government With Tools To Effectively Manage Failing Institutions

• Improving International Regulatory Standards And Cooperation

•Group of 30 White Paper: Financial Reform - A Framework for Financial Stability (1/15/09)

•GAO TARP Report (1/09)

•Congressional Oversight Panel: Special Report on Regulatory Reform (1/09)

•The Department of Treasury Blueprint for a Modernized Financial Regulatory Structure (3/08)

http://www.financialstability.gov/docs/regulatoryreform/consumer_protection.pdf







http://financialstability.gov/docs/TITLE-XI.pdf




http://financialstability.gov/docs/regs/FinalReport_web.pdf





http://financialstability.gov/docs/regulatoryreform/executive_summary.pdf

http://financialstability.gov/docs/regulatoryreform/requiring_strong_supervision_reg_finfirms.pdf

http://financialstability.gov/docs/regulatoryreform/strengthening_reg_core-markets_infrastructure.pdf

http://financialstability.gov/docs/regulatoryreform/strengthening_consumer_protection.pdf

http://financialstability.gov/docs/regulatoryreform/providing_govt_tools_manage_fincrisis.pdf

http://financialstability.gov/docs/regulatoryreform/improving_internatl_reg_standards_co-op.pdf

http://www.group30.org/pubs/recommendations.pdf




http://www.gao.gov/new.items/d09296.pdf

http://cop.senate.gov/documents/cop-012909-report-regulatoryreform.pdf

http://www.ustreas.gov/press/releases/reports/Blueprint.pdf




Accounting Issues

FASB Guidance on Fair Value Measurements and Impairments

•FAS 157-3: Fair Value Measurements (10/10/08)

•FAS 157-e: Fair Value Measurements (Additional Guidance)

•FAS 115-a, FAS 124-a and EITF 99-20-b (Amends FASB Statements No. 115 and EITF Issue No. 99-20)

http://www.fasb.org/pdf/fsp_fas157-3.pdf





http://www.fasb.org/fasb_staff_positions/prop_fsp_fas157-e.pdf



http://www.fasb.org/fasb_staff_positions/prop_fsp_fas115-a_fas124-a_and_eitf99-20-b.pdf















