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Financial Institution Letters
FDIC Temporary Liquidity Guarantee Program
Periodic Debt Reporting Instructions
Introduction
On November 21, 2008, the FDIC adopted the final rule implementing the Temporary
Liquidity Guarantee Program (TLG Program), which was announced on October
14, 2008. The TLG Program includes a guarantee of newly issued senior
unsecured debt of banks, thrifts and certain holding companies (the Debt Guarantee
Program).
Entities that participate in the Debt Guarantee Program are required to
periodically report their total debt outstanding to the FDIC. These instructions
provide
guidance on how to report total outstanding debt to the FDIC. Additional
information about the TLG Program is available at http://www.fdic.gov/tlgp.
Participating Entities
A participating entity is an entity that has not opted out of the Debt Guarantee
Program.
Who Must Report and When
All participating entities must report their outstanding debt balances within
30 calendar days after the last day of the month.
How to File
Participating entities must use FDICconnect to submit their required information
to the FDIC. The Debt Reporting function is available within the TLG Program
transaction in FDICconnect (which is the same transaction used to submit
the TLG Program Election Form).
The outstanding balances of guaranteed debt by participating entities must be
reported to the FDIC through FDICconnect only. This information is not
to be submitted to the FDIC in any other manner.
Report of Aggregate Debt Outstanding Using FDICconnect
Participating FDIC-insured depository institutions should access FDICconnect
using their assigned credentials. Other participating entities should access
FDICconnect through the affiliate insured depository institution used to
submit their Election Form.
How To Report
1. After accessing FDICconnect and selecting the Temporary Liquidity Guarantee
Program transaction (located under the Deposit Insurance Assessment heading),
the submitter should click on the “Report Balance of Outstanding Debt” button
(fourth selection).
2. Select the entity for which the report is being submitted:
Click the radio button for the bank or input the RSSD ID for the bank holding
company or OTS Docket number for the thrift holding company. (Please see instructions
below for reporting outstanding balances for more than one FDIC-insured depository
institution.)
3. Input the total “Outstanding FDIC-guaranteed Debt Balance” to the nearest
dollar. If zero, enter “0.”
4. Select the “Period End Date” using the drop-down boxes – month and day and
year.
5. Indicate whether the entity has issued any “Non-guaranteed Debt” (a Y or N).
6. Click “Report Outstanding Debt” button at the bottom of the page.
If an incorrect RSSD ID or OTS Docket number has been input, an error message
will appear. Select “ok” and “Return to Report Outstanding Balance of FDIC-guaranteed
debt” screen.
7. Review the information on the next screen and ensure it is correct.
If the information is not correct, select the “Return to Report Outstanding Balance
of FDIC-guaranteed Debt” button and input correct information.
8. Click the Certification Statement button and click the “Confirm and
Update” button on the bottom of the page. (If an error is noted, select
the “Return to TLGP” button to re-enter your information.)
9. Click “OK” to save your record.
10. Print out the next screen, sign and date the form, and retain in
your records.
Multiple Institutions
If the designated coordinator needs to report outstanding FDIC-guaranteed debt
for multiple banks within a family, he or she must go out to the initial
FDICconnect screen.
1. At the initial screen, select “User Function.”
2. Click on the “Institution Association” link. The institutions assigned to
the coordinator will appear.
3. Click on the radio button for the desired institution.
4. Click the “Set Active Institution” button.
5. Click the “Menu” link in the upper right-hand corner of the screen.
6. You may now go through steps 1 through 10 under “How to Report.”
A report
must be submitted by each participating entity.
Correcting a Previous Submission
To correct a previous submission, a coordinator may simply re-input the data
for that reporting period following the above steps. The most recent submission
will be the record on file.
Assistance
For more information, please check the dedicated page for the TLG Program on
the FDIC website at http://www.fdic.gov/tlgp. Responses to frequently asked questions
are posted on this website.
For questions pertaining to accessing and using the TLG Program transaction in
FDICconnect, please email fdicconnect@fdic.gov or call (877) 275-3342.
General policy questions or inquiries regarding entity or debt instrument eligibility
may be addressed to the TLG Program mailbox at tlgp@fdic.gov or through the
FDIC Call Center at (877) ASK-FDIC.
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