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 Home > News & Policies > September 2008

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

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.


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