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FDIC Announces Series of Banker Calls on Its Temporary Liquidity Guarantee Program
Launches Dedicated Web Page for the Program
Beginning today, the Federal Deposit Insurance Corporation (FDIC) will hold the first in a series of conference calls with the banking industry to answer technical questions regarding the newly announced Temporary Liquidity Guarantee Program. Today's call will commence at 2 p.m. Eastern and will run for one hour.
"There has been considerable interest in our new guarantee program since it was first announced on Tuesday," said Sandra Thompson, Director, Division of Supervision and Consumer Protection. "We are encouraged by the interest and want to ensure that bankers have as much information as possible in order to make an informed decision about continuing in the Program after the initial 30-day period ends."
Senior FDIC staff from across functional business lines will be available to answer bankers' questions. To participate in today's conference call, bankers should dial 1-888-790-3533 (USA) or 1-312-470-7288 (International) and, when prompted, they should enter the pass code 9172716#.
The FDIC today also announced that it has launched a dedicated Web site to communicate information on the Program. The site can be accessed at www.fdic.gov/tlgp.
Future conference calls will be announced on this site. The site will also feature an archive of all the conference calls, including today's call and two conference calls conducted on Tuesday, October 14. An extensive Q&A will also be available. The Q&A document will be updated periodically based on questions received from bankers and others.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,451 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-101-2008
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