|
The Temporary Liquidity Guarantee Program (TLGP) is a program adopted by the Federal Deposit Insurance Corporation (FDIC) on October 13, 2008 during the global financial crisis of 2008 to encourage liquidity in the interbank lending market. Several of the stated purposes of this program are (1) "to decrease the cost of bank funding so that bank lending to consumers and businesses will normalize." and (2) "to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and certain holding company, and by providing full coverage of non-interest bearing deposit transaction accounts, regardless of dollar amount." The TLG Program became effective on October 14, 2008 and was subsequently revised based on bank feedback. Many FDIC insured entities have chosen to not participate (("opt out") ) in one or both of these programs. ==Interim Rule, Amended Interim Rule, and Final Rule== The Interim Rule with request for comments was published on October 29, 2008, and provided for a 15-day comment period. The FDIC received more than 700 comments during the 15-day comment period. Later, the FDIC amended its Interim Rule. The Amended Interim Rule became effective on November 4, 2008, and was published in the Federal Register on November 7, 2008. In its Amended Interim Rule, the FDIC extended the opt-out deadline from November 12, 2008 until December 5, 2008, and made corresponding changes to other dates affected by the revised opt-out deadline. Those that choose to opt out will not be able to participate at a later date. Any debt issued on or before June 30, 2009, will be fully protected through the earlier of the maturity of the debt instrument or June 30, 2012. The Final Rule was published November 21, 2008. According to the official November 21, 2008 FDIC press release, "We are confident that the changes our Board approved today will create significant investor demand, and dramatically reduce funding costs for eligible banks and bank holding companies," said FDIC Chairman Sheila C. Bair. "I expect that the industry will take full advantage of this guarantee. I'm confident that the program—working in complement with the Treasury's Troubled Assets Relief Program and the Federal Reserve's Commercial Paper Funding Facility —will achieve its intended purpose to help insured banks increase lending—in a responsible way—to consumers and businesses." 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Temporary Liquidity Guarantee Program」の詳細全文を読む スポンサード リンク
|