PRESS RELEASE
Federal Deposit Insurance Corporation Each Depositor insured to at least $250,000
FOR IMMEDIATE RELEASE
November 3, 2008
Media Contact:
David Barr (202) 898-6992
dbarr@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-110-2008
FDIC Extends Opt-Out Deadline for Participation in the
Temporary Liquidity Guarantee Program
Unveils the Election Form to Opt Out of the Program
The Federal Deposit Insurance Corporation (FDIC) today announced that it has
extended the opt-out deadline for participation in its Temporary Liquidity Guarantee
Program (the Program) to December 5, 2008. The original deadline was November 12.
Any eligible entity that opts out of the Program on or before December 5, 2008, will not
pay any assessment under the Program. Any eligible entity that does not opt out on or
before December 5, 2008, will be required to pay related fees.
The deadline was extended in order to provide organizations additional time to
determine whether or not to opt out of the Program. On October 23, 2008, the FDIC
issued an interim rule with a 15-day comment period to implement the TLGP. The
Program's opt out election deadline was extended to ensure that eligible entities could
fully consider the Final Rule before making a final decision regarding their participation
in the Program
Also, the FDIC announced that the election form that entities must use to opt out of the
program will be available beginning Wednesday, November 12, 2008. This simple form
must be submitted via FDIConnect, the FDIC's secured, Web-based correspondence
system.
For more information on the TLGP, or to submit a comment to the FDIC on the interim
rule, please visit www.fdic.gov/tlgp.
Federal Deposit Insurance Corporation Each Depositor insured to at least $250,000
FOR IMMEDIATE RELEASE
November 3, 2008
Media Contact:
David Barr (202) 898-6992
dbarr@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-110-2008
FDIC Extends Opt-Out Deadline for Participation in the
Temporary Liquidity Guarantee Program
Unveils the Election Form to Opt Out of the Program
The Federal Deposit Insurance Corporation (FDIC) today announced that it has
extended the opt-out deadline for participation in its Temporary Liquidity Guarantee
Program (the Program) to December 5, 2008. The original deadline was November 12.
Any eligible entity that opts out of the Program on or before December 5, 2008, will not
pay any assessment under the Program. Any eligible entity that does not opt out on or
before December 5, 2008, will be required to pay related fees.
The deadline was extended in order to provide organizations additional time to
determine whether or not to opt out of the Program. On October 23, 2008, the FDIC
issued an interim rule with a 15-day comment period to implement the TLGP. The
Program's opt out election deadline was extended to ensure that eligible entities could
fully consider the Final Rule before making a final decision regarding their participation
in the Program
Also, the FDIC announced that the election form that entities must use to opt out of the
program will be available beginning Wednesday, November 12, 2008. This simple form
must be submitted via FDIConnect, the FDIC's secured, Web-based correspondence
system.
For more information on the TLGP, or to submit a comment to the FDIC on the interim
rule, please visit www.fdic.gov/tlgp.