On October 3, 2008, the President signed the Emergency Economic Stabilization Act of 2008 (EESA), which established the Troubled Asset Relief Program (TARP). The United States Department of Treasury is responsible for establishing and administering the TARP. As part of the TARP, Treasury established the Capital Purchase Program (CPP) to provide funding to eligible financial institutions. To participate, a financial institution that receives preliminary approval for the CPP must enter into an agreement to issue certain securities to the Treasury. For additional information regarding the EESA, the TARP, and the requirements for participation in the CPP, see http://www.treasury.gov/initiatives/eesa/.
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