FDIC Temporary Liquidity Guaranty Program: Highlights for Financial Institutions
On Oct. 14, 2008, the FDIC announced the Temporary Liquidity Guaranty Program, or the Program, which is one of several recent government initiatives designed to improve the strength of financial institutions and enhance market liquidity. While the long term impact of the Program remains unknown, all “eligible institutions” (as described in this advisory) are already subject to the Program on an interim basis and each eligible institution must determine whether to opt out of the Program on or before Nov. 12, 2008. This advisory will briefly summarize the major aspects of the Program. Continue reading...
