Memorandum on Use of the Exchange Stabilization Fund To Support the Money Market Mutual Fund Guaranty Facility

Memorandum for the Secretary of the Treasury

Subject: Use of the Exchange Stabilization Fund to Support the Money Market Mutual Fund Guaranty Facility

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 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 26, 2008. This memorandum supersedes the Presidential Memorandum of September 19, 2008, entitled, "Use of the Department of Treasury's Exchange Stabilization Fund to Support a Guaranty Facility for Certain Money Market Mutual Funds."

GEORGE W. BUSH