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 TheStreet.com.