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ARTICLE · 27 OCTOBER 2008

FDIC Adopts Interim Rule on Temporary Liquidity Guarantee Program

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On October 23, 2008, the Federal Deposit Insurance Corporation (FDIC) adopted an interim final rule (the Interim Rule) establishing the Temporary Liquidity Guarantee Program (TLG Program).

United StatesFinance and Banking
Jeffrey Taft
Jeffrey Taft
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Originally published October 24, 2008

Keywords: FDIC, Temporary Liquidity Guarantee Program, Debt Guarantee Program, unsecured debt, Transaction Account Guarantee Program, noninterest-bearing transaction accounts, Troubled Asset Relief program, TARP, credit markets

On October 23, 2008, the Federal Deposit Insurance Corporation (FDIC) adopted an interim final rule (the Interim Rule) establishing the Temporary Liquidity Guarantee Program (TLG Program). The TLG Program consists of two primary components: (i) a Debt Guarantee Program, through which the FDIC will guarantee the payment of certain newly issued senior unsecured debt of participating entities; and (ii) a Transaction Account Guarantee Program, through which the FDIC will guarantee certain noninterest-bearing transaction accounts of participating depository institutions.

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