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Presenting the joint statement by The Fed, the FDIC, NCUA, OCC. In essence: the Fed tells S&P to go fornicate itself.

By: capt_nemo in WRGO | Recommend this post (0)
Sat, 06 Aug 11 9:42 AM | 78 view(s)
Boardmark this board | Reality news,,,,,,,, 		Msg. 00801 of 18626
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LMAO @ you fed. All the quantitative easing bull$hit didn't really do a damn thing now, did it?????????

Submitted by Tyler Durden on 08/05/2011 22:16 -0400

* credit union
* Federal Deposit Insurance Corporation
* Federal Reserve
* Rating Agency
* Savings And Loan

Presenting the joint statement by The Fed, the FDIC, NCUA, OCC. In essence: the Fed tells S&P to go fornicate itself. And for your corresponding pleasure, below are the media contact of note: Federal Reserve Susan Stawick (202) 452-2955; FDIC David Barr (202) 898-6992; NCUA David Small (703) 518-6336; OCC Bryan Hubbard (202) 874-5307

Full release:

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency

Agencies Issue Guidance on Federal Debt

Earlier today, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA+. With regard to this action, the federal banking agencies are providing the following guidance to banks, savings associations, credit unions, and bank and savings and loan holding companies (collectively, banking organizations)

For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected.


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Media Contacts:

Federal Reserve Susan Stawick (202) 452-2955
FDIC David Barr (202) 898-6992
NCUA David Small (703) 518-6336
OCC Bryan Hubbard (202) 874-5307

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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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