Temporary Liquidity Guarantee Program Guidance to Periodic Debt Balance Reporting
FIL-2-2009 January 12, 2009
On November 21, 2008, the FDIC's Board of Directors approved the final rule on the Temporary Liquidity Guarantee Program (TLG Program), which was announced on October 14, 2008 (see FIL 132-2008). The TLG Program includes a guarantee of newly issued senior unsecured debt of banks, thrifts and certain holding companies (the Debt Guarantee Program). Each entity that participates in the Debt Guarantee Program must report, on a monthly basis, all FDIC-guaranteed debt outstanding in accordance with the signed Master Agreements. This reporting is in addition to the individual debt instrument reporting (see FIL 139-2008).
All participating entities that have not opted out of the Debt Guarantee Program of the TLG Program must submit reports of all outstanding FDIC-guaranteed debt in accordance with the signed Master Agreement, regardless of outstanding balance.
By the thirtieth calendar day following the end of the month, all participating entities must report through FDICconnect the total amount of all outstanding FDIC-guaranteed debt as of the preceding month's end.
Each entity must also indicate whether it has issued any non-guaranteed debt during the reporting period.
The participating entity must certify that all information provided is accurate.