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S&P Cuts US Credit Rating to AA+
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<blockquote data-quote="clueless" data-source="post: 864118" data-attributes="member: 15572"><p>My apologies if this was already posted--I found this in my inbox this morning--it's the Fed's response to the downgrade:</p><p></p><p>Released by the Board of Governors of the Federal Reserve System yesterday:</p><p></p><p><em>Joint Press Release</em></p><p><em></em></p><p><em>Board of Governors of the Federal Reserve System</em></p><p><em>Federal Deposit Insurance Corporation</em></p><p><em>National Credit Union Administration</em></p><p><em>Office of the Comptroller of the Currency</em></p><p><em>For immediate release August 5, 201</em></p><p><em></em></p><p><em>Agencies Issue Guidance on Federal Debt</em></p><p><em></em></p><p><em>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).</em></p><p><em></em></p><p><em>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.</em></p><p><em></em></p><p><em><a href="http://www.federalreserve.gov/newsevents/press/bcreg/20110805a.htm" target="_blank">http://www.federalreserve.gov/newsevents/press/bcreg/20110805a.htm</a></em></p></blockquote><p></p>
[QUOTE="clueless, post: 864118, member: 15572"] My apologies if this was already posted--I found this in my inbox this morning--it's the Fed's response to the downgrade: Released by the Board of Governors of the Federal Reserve System yesterday: [I]Joint Press Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency For immediate release August 5, 201 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. [URL]http://www.federalreserve.gov/newsevents/press/bcreg/20110805a.htm[/URL][/I] [/QUOTE]
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