Results of Survey “Quick Poll — Extension of Debt Guarantee Program — September 14, 2009”
The FDIC has proposed extending the Temporary Liquidity Guarantee Program’s Debt Guarantee Program for six months on a case-by-case basis. The FDIC would assess an annualized participation fee of at least 300 basis points on any FDIC-guaranteed debt issued by participants.
Although few community banks have issued FDIC-guaranteed debt under the program, the excess assessments that have been collected under the program, which will amount to approximately $10 billion by the end of the year, could be used to bolster Deposit Insurance Fund reserves. Do you support a six-month extension of the Debt Guarantee Program?