Are foreign deposits (including Eurodollars) guaranteed?
Deposits payable solely outside the United States (including Eurodollar deposits) are not guaranteed under the transaction account guarantee component of the Temporary Liquidity Guarantee Program. However, U.S. dollar denominated deposits in an IBF of an insured depository institution owed to an insured depository institution or a foreign bank and U.S. dollar denominated deposits on the books and records of foreign branches of U.S. insured depository institutions that are owed to an insured depository institution or a foreign bank are eligible under the debt guarantee part of the Temporary Liquidity Guarantee Program. The term “foreign bank” does not include a foreign central bank or other similar non-U.S. government entity that performs central bank functions or a quasi-governmental international financial institution such as the International Monetary Fund or the World Bank. (In this context, the phrase “owed to an insured depository institution or a foreign bank” means owed to an in
Deposits payable solely outside the United States (including Eurodollar deposits) are not guaranteed under the transaction account guarantee component of the Temporary Liquidity Guarantee Program. However, U.S. dollar denominated deposits in an IBF of an insured depository institution owed to an insured depository institution or a foreign bank and U.S. dollar denominated deposits on the books and records of foreign branches of U.S. insured depository institutions that are owed to an insured depository institution or a foreign bank are eligible under the debt guarantee part of the Temporary Liquidity Guarantee Program. The term “foreign bank” does not include a foreign central bank or other similar non-U.S. government entity that performs central bank functions or a quasi-governmental international financial institution such as the International Monetary Fund or the World Bank.
