October 15, 2008
Survey Regarding Interest in TARP Capital Purchase Program and Temporary Liquidity Guarantee Program
To: TO THE PRESIDENTS OF STATE CHARTERED BANKS
Dear Sir or Madam:
The Treasury's implementation of the TARP Capital Purchase Program and the FDIC’s implementation of the Liquidity Guarantee Program are moving very fast. The Department of Financial Institutions is interested in gathering preliminary information about potential usage of these programs by our licensees. Accordingly, we ask you to please complete the attached survey (Excel) regarding your anticipated usage of the TARP Capital Purchase Program and the Temporary Liquidity Guarantee Program. For your convenience, this survey has been made into a Microsoft Excel form. Please complete the form on your computer, and e-mail to DFI at Licensing@dfi.ca.gov as an attachment on or before October 17, 2008. Do not submit a hard copy of this form.
The TARP Capital Purchase Program will permit Qualifying Financial Institutions to sell senior preferred stock and warrants to the U.S. Treasury Dept. A description of the program can be found at: http://www.treas.gov/press/releases/reports/document5hp1207.pdf. Enrollment in the TARP Capital Purchase Program must be completed by 5:00 PM (EDT) on November 14, 2008.
The FDIC's Temporary Liquidity Guarantee Program will guarantee certain newly issued senior unsecured debt of banks and certain holding companies and will provide full coverage of non-interest bearing deposit transaction accounts regardless of dollar amount for a period of time. Fees will be assessed on banks participating in this program. A description of the program can be found at: http://www.fdic.gov/news/news/press/2008/pr08100b.html.
We understand that your responses are subject to revision.If you have any questions, please contact Annie Constantino at email@example.com, or by telephone at (415) 263-8552.