Risk Tutorial Topic 4b Citigroup

describe Temporary Liquidity Guarantee Program (TLGP) financial assistance program and the amounts that Citigroup received from the Government.

TLGP was established on October 14, 2008 by Federal Deposit Insurance Corporation (FDIC) , help bring stability to financial markets and the banking industry during the crisis period by calming market fears and promoting lending. To address the issue of disruptions in the credit market, particularly the interbank lending market, which reduced banks liquidity and impaired their ability to lend and to decrease the cost of bank funding so that bank lending to consumers and businesses will normalize. The FDIC's Temporary Liquidity Guarantee Program include two-pronged program. First is the transaction account guarantee program known as TAGP which provided complete FDIC coverage for noninterest-bearing transaction accounts. By eliminating the danger of loss from deposit accounts that are often utilized to meet payroll and other business transaction needs, it has increased stability and confidence for banks and their business clients. while the second, debt guarantee prog known as DGP provide FDIC guarantee for a subset of newly issued senior unsecured debt with the goal of promoting liquidity and preventing bank system runs. DGP helped financial institutions satisfy their funding needs during a time of record-high credit spreads and contributed to the credit market's successful return to nearly normalcy. This improvement in the credit markets was reflected in the increasing ability of banks and their holding companies to issue longer-term debt over the course of the DGP issuance period.

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