DBRS Confirms the FDIC Guaranteed (TLGP) Debt of Various U.S. Banks Following U.S. AAA Confirmation

DBRS, Inc. (DBRS) has today confirmed the AAA rating and Stable Trend of the FDIC Guaranteed Debt issued by U.S. Financial Institutions under the Temporary Liquidity Guarantee Program (TLGP).

This rating action follows DBRS’s October 11 confirmation of the AAA issuer ratings on the long-term foreign and local currency debt of the United States of America.

The AAA rating on the Notes is based on the explicit guarantee provided under the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program and is backed by the full faith and credit of the United States as governed by 12 CFR Part 370 of the FDIC Rules and Regulations.

The rating of the Notes reflects the government’s ability to honor this guarantee as determined by DBRS’s rating of the sovereign.

All other debt ratings and trends of the respective issuers remain unchanged at their current levels.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organizations. Other methodologies used include the DBRS Criteria – Intrinsic and Support Assessments. Both can be found on the DBRS website under Methodologies.

The sources of information used for this rating include the DBRS rating of the United States of America, respective company documents, the Federal Reserve, and the Federal Deposit Insurance Corporation. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

This is an unsolicited credit rating. This credit rating was not initiated at the request of the issuer and did not include participation by the issuer or any related third party.

Lead Analysts: William Schwartz, David Laterza
Rating Committee Chair: Alan G. Reid

For additional information on this rating, please refer to the linking document under Related Research.