Temporary Liquidity Guarantee Program: FDIC Board of Directors Adopts Final Rule
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Temporary Liquidity Guarantee Program: FDIC Board of Directors Adopts Final Rule

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Details:

  • Publisher's site:
  • Description:
    On November 21, 2008, the FDIC adopted the attached Final Rule implementing the Temporary Liquidity Guarantee Program (TLG Program) inaugurated October 14, 2008. The TLG Program consists of two basic components: a guarantee of newly issued senior unsecured debt of banks, thrifts, and certain holding companies (the debt guarantee program) and full guarantee of non-interest bearing deposit transaction accounts, such as business payroll accounts, regardless of dollar amount (the transaction account guarantee program). The purpose of the guarantee of transaction accounts and the debt guarantee is to reduce funding costs and allow banks and thrifts to increase lending to consumers and businesses. As the result of more than 700 comments received, the Final Rule makes several important improvements.
  • Format:
  • Release Date:
    11/21/2008
  • Update Date:
    10/18/2013
  • Withdrawn Date:
    Not Available.
  • Agencies Involved:
    Federal Deposit Insurance Corporation (FDIC)
  • Fdic Employee Involved:
    Donna Saulnier;Munsell St. Clair;
  • Related Regulation:
    12 CFR Part 370
  • Source:
    FDIC Website
  • Memorandum To:
    All FDIC-Insured Institutions
  • Effective Date:
    11/21/2008;12/19/2008;
  • FIL Number:
    FIL-132-2008
  • Main Document Checksum:
  • File Type:

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