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Home > News & Policies > September 2008

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For Immediate Release
Office of the Press Secretary
September 19, 2008

Memorandum for the Secretary of the Treasury
SUBJECT: Use of the Department of the Treasury's Exchange Stabilization Fund to Support a Guaranty Facility for Certain Money Market Mutual Funds

White House News

Pursuant to section 10(b) of the Gold Reserve Act of 1934, as amended, 31 U.S.C. 5302(b), I approve the use of funds from the Exchange Stabilization Fund to provide up to $50 billion as a guaranty facility for certain money market mutual funds, consistent with your recommendation to me and the terms and conditions set out in your memorandum to me dated September 18, 2008.

GEORGE W. BUSH

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