FDIC Votes To End Debt-Guarantee Program

Law360, New York (October 20, 2009, 4:31 PM EDT) -- Federal banking regulators voted Tuesday to let the part of the Temporary Liquidity Guarantee Program that provides guarantees for some of the debt banks issue expire as planned, but it approved a six-month extension to cover any emergencies.

The board of directors of the Federal Deposit Insurance Corp. voted unanimously at its public meeting to let the TLGP's debt guarantee program expire on Oct. 31, as scheduled.

On Sept. 9, the board issued a proposed rule to handle the end of the year-old program with two...
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