FDIC excludes structured notes from debt guarantee
The US structured products industry is preparing to lobby the Federal Deposit Insurance Corp (FDIC) after it excluded debt-based structured notes from its Temporary Liquidity Guarantee Program. The FDIC unveiled its plan to guarantee all newly issued unsecured debt by banks, thrifts and certain holding companies on October 15. It says the plan will not cover "derivatives, derivative-linked products, or debt paired with any other security," amid other exclusions.
"The line they have drawn is
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