Regulatory Notice 09-38

Guidance on the Net Capital and Reserve Formula Treatment of Senior Unsecured Debt Securities Issued Under the Debt Guarantee Program Component of the FDIC's Temporary Liquidity Guarantee Program

Effective Date: July 15, 2009

FINRA is issuing this Notice to advise firms of the Net Capital and Reserve Formula treatment of senior unsecured debt securities issued under the Debt Guarantee Program component of the Federal Deposit Insurance Corporation’s (FDIC) Temporary Liquidity Guarantee Program. Terms of the guidance are detailed in a July 15, 2009, letter to the Securities and Exchange Commission (SEC), included as Attachment A to this Notice.

Questions concerning this Notice should be directed to:

  • Yui Chan, Managing Director, Risk Oversight and Operational Regulation (ROOR), at (646) 315-8426;
  • Joanne Li, Director, ROOR, at (646) 315-8403; or
  • Kathryn Mahoney, Director, ROOR, at (646) 315-8428.