FDIC extension gives breathing space to banks

The difficulties banks are facing in borrowing capital are ample justification for extending the TLGP scheme, say observers. Indeed, there are calls for the scheme to become more permanent

The vote by the Federal Deposit Insurance Corporation on March 17 to extend the debt guarantee of the Temporary Liquidity Guarantee Program from June 30, 2009 to October 31, 2009 was both expected and a comment on continuing dysfunction in the US markets, according to senior New York bankers.

"It is the right thing to do for the market because we're still not fixed. We're still broken," says a syndicate manager at a Wall Street firm.

Although tensions in the global markets have relaxed a little in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here