The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Les H	3/17/2009 7:42:31 PM
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Fed Extends Deadline For Banks In Order To Boost Capital Levels Tuesday March 17, 2009 10:00:00 EDT (RTTNews) - The Federal Reserve took steps to further their ability to stabilize financial markets Tuesday by extending a deadline for new limits on the inclusion of trust preferred securities, along with other capital elements, for an additional two years. The original deadline was March 31st, 2009, which the Fed thought could harm its efforts to respond to the current stress in the markets. It extended the deadline to March 31st, 2011 "in light of continued stress in financial markets and the efforts of BHCs to increase their overall capital levels," the fed said in a statement. "The delay will further the Board's efforts, as well as the efforts of the other Federal banking agencies and the U.S. Department of the Treasury, to respond to the current financial situation," it added. Bank Holding Companies may now include cumulative perpetual preferred stock and trust preferred securities in tier 1 capital up to 25 percent of total core capital elements, the Fed said, as part of the deadline extension.

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