Amendment of the Temporary Liquidity Guarantee Program To Extend the Debt Guarantee Program and To Impose Surcharges on Assessments for Certain Debt Issued on or After April 1, 2009
FDIC · other · Published 2009-03-23 · Effective 2009-03-23 · 74 FR 12078
Document
Document number
E9-6115
Federal Register citation
74 FR 12078
CFR reference
12 CFR 370
Type
Rule
Action
Interim Rule with request for comments.
Category
other
Agency
US Federal Deposit Insurance Corporation
Publication date
2009-03-23
Effective date
2009-03-23
Abstract
The FDIC is issuing this Interim Rule to amend the Temporary Liquidity Guarantee Program (TLGP) by providing a limited extension of the Debt Guarantee Program (DGP) for insured depository institutions (IDIs) participating in the DGP. The extended DGP also would apply to other participating entities; however, other participating entities that have not issued FDIC-guaranteed debt before April 1, 2009 are required to submit an application to and obtain approval from the FDIC to participate in the extended DGP. The Interim Rule imposes surcharges on certain debt issued on or after April 1, 2009. Any surcharge collected will be deposited into the Deposit Insurance Fund (DIF or Fund). The Interim Rule also establishes an application process whereby entities participating in the extended DGP may apply to issue non-FDIC- guaranteed debt during the extension period.