FDIC Implements Liquidity Guarantee Program to Improve Credit Markets
The FDIC has taken the final step necessary to implement the Temporary Liquidity Guarantee Program in order to bolster bank lending. The Program is a two pronged approach consisting of both a debt guarantee program (a guarantee of newly issued senior unsecured debt of banks, thrifts and certain holding companies) and a transaction account guarantee program (providing coverage for non-interest bearing deposit transaction accounts such as payroll accounts). Click here for all the details.
