Temporary Liquidity Guarantee Program: FDIC Final Rule
On November 21, 2008, the FDIC released the Final Rule for its Temporary Liquidity Guarantee Program (the TLG Program), which guarantees certain senior unsecured debt issued by eligible banking institutions and provides unlimited deposit insurance through 2009 for certain transaction accounts. An Interim Rule implementing the TLG Program was published on October 23, 2008 and an amendment to the Interim Rule on November 7, 2008.
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