The Bank of New York Mellon decides to participate in the FDIC’s Temporary Liquidity Guarantee Program and its debt guarantee program intended to provide guarantee of newly issued senior unsecured debt.
The FDIC’s Temporary Liquidity Guarantee Program provides 100 % insurance coverage for domestic non-interest-bearing transaction accounts — regardless of dollar amount — through 31 December 2009.
The debt guarantee program is designed to increase liquidity by assisting eligible institutions to replace existing debt that is scheduled to mature on or before 30 June 2009.
The Bank of New York Mellon Corporation is an international financial services company focused on helping clients to manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company also provides financial services for institutions, corporations and high-net-worth individuals.
L.D.