The Department of the Treasury announced that it has commenced a secondary public offering of warrants to purchase the common stock of Boston Private Financial Holdings, Inc. The proceeds of this sale will provide an additional return on Treasury's investment in the company beyond the dividend payments received on related preferred stock. Date January 31, 2011

The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of California affected by severe winter storms, flooding, debris, and mud flows. Date January 28, 2011 Cross References FIL-3-2011

www.isda.org ISDA's Accounting Policy Committee has published a comment letter on the IASB's Request for Views on Effective Dates and Transition Methods. ISDA's main points are (1) a preference for a single mandatory date for adoption of the standards described in the Request for Views; (2) the mandatory date of adoption should be no earlier than January 1, 2015, (3) entities should have the ability to adopt standards earlier if they have the ability to do so and (4) the exemption from restating comparative information should be extended to all entities that adopt a standard prior to the

www.isda.org ISDA has published a comment letter on the European Commission document "Green Paper from the Commission on policy options for progress towards a European Contract Law for consumers and businesses" issued on 1 July 2010. ISDA's comments include (among other things) that ISDA does not believe that it is necessary or appropriate for a European instrument on contract law aspects to become mandatory in any way and that ISDA urges the Commission to ensure that the choice of the law governing the contract remains solely up to both counterparties to a transaction. Date January 31, 2011

www.isda.org ISDA has submitted comments in response to the CFTC proposed rules to implement Section 724(c) of the Dodd-Frank Act. In general, ISDA's comments reflected that the rules should permit bilateral contract negotiation in place of formalistic rules where appropriate should strike a balance between the burden presented and the need to protect the interests of counterparties who are, by definition, deemed to be able to protect their own interests. Date February 1, 2011 Cross References 724(c) of the Dodd-Frank Act