Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are non-bank affiliates of bank holding companies eligible for the debt guarantee component of the Temporary Liquidity Guarantee Program?

April 26, 2017Affiliates Bank companies component debt eligible guarantee holding non-bank Temporary

0

Posted

Are non-bank affiliates of bank holding companies eligible for the debt guarantee component of the Temporary Liquidity Guarantee Program?

1 Answer

0

Posted

The guarantee will only cover those affiliates that the FDIC, in its sole discretion and on a case-by-case basis, after written request and positive recommendation by the appropriate Federal banking agency, designates as an eligible entity. If the parent company of an insured institution has no deposits, debt or any liabilities and will not be issuing any debt, does the insured institution need to file the election form and master agreement for the holding company as well as the bank or only on behalf of the bank? The insured institution will need to file the election form for both the bank and the holding company.