On October 23, 2008, the Board of Directors of the Federal Deposit Insurance Corporation (the ?FDIC?) announced that it had approved an interim rule under the FDIC?s systemic risk exception process (the ?Interim Rule?) to govern its newly created Temporary Liquidity Guarantee Program (the ?TLGP?).1 The Interim Rule is effective immediately but comments will be taken for the 15 day period after publication in the Federal Register.

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