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Are funds that are classified on a banks general ledger as noninterest-bearing savings accounts covered under the Temporary Liquidity Guarantee Program?

April 26, 2017Bank Classified Covered funds ledger noninterest-bearing savings accounts Temporary

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Are funds that are classified on a banks general ledger as noninterest-bearing savings accounts covered under the Temporary Liquidity Guarantee Program?

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If the funds are swept from a noninterest-bearing transaction account to a noninterest-bearing savings account, as defined in Regulation D, the funds will be protected in full under the transaction account component of the program.