How will institutions be assessed for the transaction account guarantee part of the Temporary Liquidity Guarantee Program?
For noninterest-bearing transaction deposit accounts (including accounts swept from a noninterest-bearing transaction account into an noninterest-bearing savings deposit account), a 10 basis point annual rate surcharge will be applied to noninterest-bearing transaction deposit amounts over $250,000. Institutions will not be assessed on amounts that are otherwise insured. For example, if a taxes and insurance custodial account has $2 million in it but each actual owner has a balance that is less than $250,000, then the institution will not be assessed the 10 basis point annual surcharge on this account. This surcharge will be collected through the normal assessment cycle.
Related Questions
- How will a depositor know if a transaction account is fully guaranteed under the transaction account guarantee component of the Temporary Liquidity Guarantee Program?
- How will institutions be assessed for the transaction account guarantee part of the Temporary Liquidity Guarantee Program?
- How will fees be assessed for the unsecured debt guarantee part of the Temporary Liquidity Guarantee Program (TLGP)?
