Date: November 7, 2008
Time: 10:30 a.m.
Winthrop & Weinstine, P.A., and United Bankers' Bank have partnered to offer a free informational webinar on the United States Government's Bank Intervention Programs, including Temporary Liquidity Program, Capital Purchase Program, and Troubled Asset Relief Program.
The discussion format will feature a slide presentation on the programs and types of issues that a community bank Board of Directors or executive management team might want to consider in pursuing participation in any of these programs. Webinar participants will have an opportunity to submit questions via chat during the webinar. If you are interested in participating, please follow one of the three options below:
1) Visit
http://www.ubb.com/ and under "Latest UBB News" click on the "US Government Bank Intervention Program" link. Follow the registration instructions on the screen.
2) Go to
https://ubb.webex.com/. In the Browse Meetings search box, type "US Government" and click search. The meeting will appear under the "Later (Not Started)" heading. On the right hand side of the line, there is a "Register" link, click it and follow the registration information.
3) Email ellie.filer@ubb.com and she can assist you with your registration.
More information on the programs:
The FDIC's Temporary Liquidity Guarantee Program provides the FDIC with flexibility to provide a 100 percent guarantee for newly-issued senior unsecured debt and non-interest bearing transaction deposit accounts at FDIC insured institutions, provided that a bank has the ability to opt out of the program if it notifies the FDIC by November 12, 2008.
The United States Treasury has announced a voluntary Capital Purchase Program ("CPP") to provide capital to financial institutions in order to encourage them to build capital to increase the flow of financing to U.S. businesses and consumers and to support the U.S. economy. The application deadline for the CPP program is 5:00 p.m. Eastern Time on November 14, 2008.
Whether taken individually or together, these programs are unprecedented in their size, scope and the potential issues they pose for community banks considering participation. With deadlines for both programs rapidly approaching, many community banks are considering all of their options.