News release: “The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved an interim rule to govern its newly created Temporary Liquidity Guarantee Program (TLGP). While the rule is effective immediately, comments will be taken for a 15-day period…The program has two components. One guarantees newly issued senior unsecured debt of the participating organizations, within a certain limit, issued between October 14, 2008 and June 30, 2009. For such debts maturing beyond June 30, 2009, the guarantee will remain in effect until June 30, 2012. The other provides full coverage for non-interest bearing transaction deposit accounts, regardless of dollar amount until December 31, 2009.”

• Chairman’s Statement
• Draft Interim Rule
• Related postings on financial system