Four agencies announced last Friday that despite a downgrade of the U.S credit rating by credit rating agency Standard & Poor’s, all banking organizations in the country should maintain the same treatment of all federal debts issued by the U.S. government and federal agencies.
In a joint statement released last Friday, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of Currency made the directive order addressed to all banking organizations in the country following S&P’s unexpected move to downgrade the country’s stellar long-term debt rating from AAA to AA+.
