Investopedia

Temporary Liquidity Guarantee Program (TLGP)

Dictionary Says

Definition of 'Temporary Liquidity Guarantee Program (TLGP)'

The TGLP was instituted in 2008 by the FDIC during the worldwide banking crisis. The TGLP was one of many government interventions that resulted from the determination by the U.S. Treasury and Federal Reserve that the severe systemic risk warranted unprecedented action. Under the program, the FDIC increased its insurance coverage for depository accounts held at certain financial institutions, and also leant its guarantee to certain unsecured credit obligations of those institutions, most notably certificates of deposit and commercial paper. These two separate programs were known as the Transaction Account Guarantee Program and the Debt Guarantee Program
Investopedia Says

Investopedia explains 'Temporary Liquidity Guarantee Program (TLGP)'

The TGLP was conceived to avert the two most immediate threats to the U.S. financial system. The first was the confidence of the public in the integrity ot their depositary institutions. The second threat was the disintegration in the interbank and short-term credit markets causing such a liquidity crisis that several major institutions went bankrupt.

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