On November 17, Treasury released the Capital Purchase Program term sheet and FAQs for privately-held institutions, with an application deadline of December 8.  Treasury Release.

On November 18, Treasury Secretary Paulson, Fed Chairman Bernanke and FDIC Chairman Bair testified in front of the House Financial Services Committee regarding the implementation of the Emergency Economic Stabilization Act (EESA). Secretary Paulson defended Treasury’s actions and indicated that further spending measures under the EESA would be deferred until the next administration. Chairman Bair discussed the FDIC proposal to promote affordable loan modifications, as well as the forthcoming Final Rule regarding the Temporary Liquidity Guarantee Program.  Paulson’s Testimony.  Bernanke’s Testimony.  Bair’s Testimony.  FDIC Loan Modification Proposal.  FDIC Release re: Board Meeting.