Does the Temporary Liquidity Guarantee Program include new senior unsecured debt issued from an existing note program under a shelf registration that still has unused availability?
Yes. Senior unsecured debt newly issued under an existing shelf registration will be guaranteed, subject to the SEC disclosure requirements. If an eligible bank holding company has not pledged any collateral to secure a debt to a lender, but has given a negative pledge, for example, a promise to not pledge the stock of its wholly owned subsidiary bank to any party, does the debt still qualify as “unsecured”? Yes.
Related Questions
- Is senior unsecured debt issued under the FDICs Temporary Liquidity Guarantee Program (TLGP) or the NCUAs Temporary Corporate Credit Union Liquidity Guarantee Program (TCCULGP) eligible to pledge for discount window or payment system risk collateral purposes?
- Does the Temporary Liquidity Guarantee Program include new senior unsecured debt issued from an existing note program under a shelf registration that still has unused availability?
- Is senior unsecured debt issued under the FDICs Temporary Liquidity Guarantee Program (TLGP) eligible to pledge for discount window or payment system risk collateral purposes?
