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Highlights:

• Under Alternative A, the DGP would conclude as provided under current regulation. All insured depository institutions (IDIs) and other qualifying entities currently participating in the DGP would be permitted to issue �౦��Ϸ����-guaranteed senior unsecured debt until October 31, 2009, with the �౦��Ϸ����'s guarantee expiring no later than December 31, 2012.
• Under Alternative B, the DGP generally would expire as above. However, the �౦��Ϸ���� would establish a limited emergency guarantee facility that would permit IDIs (and other entities that had issued �౦��Ϸ����-guaranteed senior unsecured debt by September 9, 2009) to apply to the �౦��Ϸ���� to issue �౦��Ϸ����-guaranteed debt for an additional six months. The �౦��Ϸ����'s guarantee would continue to expire no later than December 31, 2012.
• To use the emergency guarantee facility described in Alternative B, applicants would be required to demonstrate their inability to issue non-guaranteed debt or to replace maturing debt as a result of market disruptions or other circumstances beyond their control. Applicants approved by the �౦��Ϸ���� would pay an annualized participation fee of at least 300 basis points on �౦��Ϸ����-guaranteed debt issued and would be subject to other conditions imposed by the �౦��Ϸ���� in accordance with Alternative B.

Distribution:
All �౦��Ϸ����-Insured Institutions

Suggested Routing:
Chief Executive Officer
President
Chief Financial Officer

Note:
�౦��Ϸ���� financial institution letters (FILs) may be accessed from the �౦��Ϸ����'s Web site at www.fdic.gov/news/financial-institution-letters/2009/index.html .

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

Paper copies of �౦��Ϸ���� financial institution letters may be obtained through the �౦��Ϸ����'s Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).