of the
Temporary Liquidity Guarantee Program for six months, through
The accounts must be held at FDIC-insured institutions participating in the FDIC's
Temporary Liquidity Guarantee Program. This too is scheduled to expire on Dec.
In response to bank-funding difficulties and depositor concerns, the FDIC last year instituted the
Temporary Liquidity Guarantee Program (TLGP), which would, for a fee, insure financial institutions' non-interest-bearing transaction deposits and eligible senior unsecured debt.
Contents Deposit Insurance Resolution of Bank Failures Temporary Liquidity Guarantee Program Foreclosure Mitigation Homeowner Affordability and Stability Plan Conclusion Deposit Insurance
On October 14, 2008, the FDIC announced the creation of the Temporary Liquidity Guarantee Program (TLGP) to provide liquidity for interbank lending, which diminished significantly during the third quarter of 2008.
Under the
Temporary Liquidity Guarantee Program, certain newly issued senior unsecured debt issued on or before June 30, 2009, would be fully protected in the event the issuing institution subsequently fails or its holding company files for bankruptcy.
The AAA rating on debt issued by NCB and its indirect thrift subsidiary NCB FSB under the
Temporary Liquidity Guarantee Program remains intact.