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Temporary Liquidity Guarantee Program 多宝游戏下载 Announces Temporary Program to Encourage Liquidity and Confidence in the Banking System

October 15, 2008
Summary: On October 14, 2008, the 多宝游戏下载 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 多宝游戏下载-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 多宝游戏下载-insured institutions, regardless of the dollar amount.


 

Highlights: 
The 多宝游戏下载 will guarantee certain newly issued senior unsecured debt issued by participating institutions on or after October 14, 2008, and before June 30, 2009. 

The 多宝游戏下载 will provide full 多宝游戏下载 deposit insurance coverage for non- interest bearing transaction deposit accounts held at participating 多宝游戏下载- insured institutions. This provision expires December 31, 2009. 

The Program is available to all 多宝游戏下载-insured institutions and the debt guarantee component of the program also is available to certain holding companies that meet the following criteria:

  • Eligibility: 多宝游戏下载-insured institutions and bank holding companies, financial holding companies, and savings and loan holding companies that engage only in activities permissible for financial holding companies to conduct under Section 4(k) of the Bank Holding Company Act.
  • Participation: All eligible entities will be covered under the program for the first 30 days at no cost. Prior to the end of this period, institutions may opt out of one or both parts of the program; otherwise, fees will apply for future participation. If an entity opts out, the Program's guarantees or insurance shall remain valid only for the first 30 days.
  • Supervision and Oversight: All entities that participate in the 多宝游戏下载's Temporary Liquidity Guarantee Program will be subject to supervisory oversight to prevent rapid growth or excessive risk- taking. The 多宝游戏下载, in consultation with an entity's primary regulator, will determine eligibility and use.

The 多宝游戏下载 will provide institutions with additional information on the recordkeeping, billing and reporting aspects of the program, including how institutions may opt out. Please check the website for more information and answers to common questions at http://www.fdic.gov/tlgp/.

 

Distribution: 
All 多宝游戏下载-Insured Institutions

Suggested Routing: 
Chief Executive Office 
Chief Financial Officer 
Compliance Officer

  • 877-ASK多宝游戏下载 (877-275-3342)
  • TDD: 800-925-4618

 

Note: 
多宝游戏下载 financial institution letters (FILs) may be accessed from the 多宝游戏下载's Web site at www.fdic.gov/news/financial-institution-letters/2008/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of 多宝游戏下载 financial institution letters may be obtained through the 多宝游戏下载's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226.

 



 

FIL-103-2008
Attachment(s)
The 多宝游戏下载's Temporary Liquidity Guarantee Program
Contact(s)
多宝游戏下载 Call Center
Toll-free numbers

Last Updated: October 15, 2008