Author : The Law Library
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781727242171
Total Pages : 32 pages
Book Rating : 4.2/5 (421 download)
Book Synopsis Amendment of Temporary Liquidity Guarantee Program - Extend Transaction Account Guarantee Program with Opportunity to Opt-Out (Us Federal Deposit Insurance Corporation Regulation) (Fdic) (2018 Edition) by : The Law Library
Download or read book Amendment of Temporary Liquidity Guarantee Program - Extend Transaction Account Guarantee Program with Opportunity to Opt-Out (Us Federal Deposit Insurance Corporation Regulation) (Fdic) (2018 Edition) written by The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-09-10 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amendment of Temporary Liquidity Guarantee Program - Extend Transaction Account Guarantee Program with Opportunity to Opt-Out (US Federal Deposit Insurance Corporation Regulation) (FDIC) (2018 Edition) The Law Library presents the complete text of the Amendment of Temporary Liquidity Guarantee Program - Extend Transaction Account Guarantee Program with Opportunity to Opt-Out (US Federal Deposit Insurance Corporation Regulation) (FDIC) (2018 Edition). Updated as of May 29, 2018 The FDIC is issuing this Interim Rule to amend the Transaction Account Guarantee (TAG) component of the Temporary Liquidity Guarantee Program (TLGP) by providing an 6-month extension of the TAG program for insured depository institutions (IDIs) currently participating in the TAG program, with the possibility of an additional 12-month extension of the program without further rulemaking, upon a determination by the FDIC's Board of Directors (Board) that continuing economic difficulties warrant a continued extension. By virtue of this Interim Rule, the TAG program will be extended through December 31, 2010, with the possibility of an additional 12-month extension through December 31, 2011. In addition, while the Interim Rule presents no changes in the amount of the assessment for an IDI's continued participation in the TAG, it modifies the assessment basis for calculating the current risk-based assessments to one based on average daily balances in the TAG-related accounts. Further, the Interim Rule requires IDIs participating in the TAG program that offer NOW accounts covered by the program to reduce the interest rate on such accounts to a rate no higher than 0.25 percent and to commit to maintain that rate for the duration of the TAG extension in order for those NOW accounts to remain eligible for the FDIC's continued guarantee. This book contains: - The complete text of the Amendment of Temporary Liquidity Guarantee Program - Extend Transaction Account Guarantee Program with Opportunity to Opt-Out (US Federal Deposit Insurance Corporation Regulation) (FDIC) (2018 Edition) - A table of contents with the page number of each section