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Temporary Liquidity Guarantee Program: FDIC Announces Temporary Program to Encourage Liquidity and Confidence in the Banking System
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10/15/2008
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Description:On October 14, 2008, the FDIC announced the Temporary Liquidity Guarantee Program to strengthen confidence and encourage liquidity in the banking system. The new program will (1) guarantee newly issued senior unsecured debt of eligible institutions, including FDIC-insured banks and thrifts, as well as certain holding companies, and (2) provide full deposit insurance coverage for non-interest bearing deposit transaction accounts in FDIC-insured institutions, regardless of the dollar amount.
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Release Date:10/15/2008
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Update Date:10/18/2013
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Withdrawn Date:Not Available.
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Agencies Involved:Federal Deposit Insurance Corporation (FDIC)
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Law Involved:Bank Holding Company Act
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Source:FDIC Website
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Memorandum To:All FDIC-Insured Institutions
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FIL Number:FIL-103-2008
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