Letters

Implementation of Temporary Liquidity Guarantee Program

Summary

SIFMA provides comments to the Federal Deposit Insurance Corporation (FDIC) on the Interim Rule Implementing the Temporary Liquidity Guarantee Program (TLGP) issued by the FDIC, RIN No. 3064-AD37. SIFMA believes that with modifications this will be an effective tool to fight challenges facing the financial industry. Modifications include: 1) making the guarantee cover principal and interest payments as they become due; 2) making a standard language that issuers and other market participants may use; and 3) developing a process for more timely payment in the event of insolvency.

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