The program was extended for six months, through June 30, 2010
The Huntington National Bank has planned to continue its participation in the Federal Deposit Insurance Corporation’s (FDIC) Transaction Account Guarantee Program (TAGP).
Created in 2008 under the Temporary Liquidity Guarantee Program (TLGP), the TAGP program was recently extended for six months, through June 30, 2010. The extension is valid only to financial institutions that choose to remain in the program.
Stephen Steinour, chairman, president and chief executive officer of Huntington Bank, said: Huntington has been involved with the TAGP since the very beginning, and we are pleased that the FDIC has decided to extend this program. Coupled with Huntington’s strong capital position, our participation in the TAGP enhances our ability to provide a safe, sound and secure banking experience for all customers.
The TAGP provides insurance coverage in addition to and separate from the coverage provided through the FDIC’s general deposit insurance fund, which covers balances up to $250,000 per depositor through December 31, 2013.