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The Federal Deposit Insurance Corp. on Tuesday extended the deadline for financial firms to participate in a program that guarantees their newly issued, senior unsecured debt and non-interest bearing deposit transaction accounts.

Eligible firms that opt out of the Temporary Liquidity Guarantee program by Dec. 5 will not have to pay a fee. The original deadline was Nov. 12.

The program was introduced last month as part of a series of moves intended to revive frozen credit markets and spur new bank lending.

This article was written by a staff member of

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