Federal Deposit Insurance Corporation October 29, 2008 – Federal Register Recent Federal Regulation Documents

Temporary Liquidity Guarantee Program
Document Number: E8-25739
Type: Rule
Date: 2008-10-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is issuing this Interim Rule following a determination of systemic risk pursuant to section 13(c)(4)(G) of the Federal Deposit Insurance Act. As a result of this systemic risk determination, and in an effort to avoid or mitigate serious adverse effects on economic conditions or financial stability, the FDIC is establishing the Temporary Liquidity Guarantee Program. As further described in the Interim Rule, the Temporary Liquidity Guarantee Program has two primary components: the Debt Guarantee Program, by which the FDIC will guarantee the payment of certain newly- issued senior unsecured debt, and the Transaction Account Guarantee Program, by which the FDIC will guarantee certain noninterest-bearing transaction accounts.