Regions Financial (RF) will participate in the Federal Deposit Insurance Corporation’s (FDIC) Transaction Account Guarantee (TAG) Program. Under this program, through June 30, 2010, all non-interest-bearing transaction accounts will be fully guaranteed by the FDIC for the entire amount in the account. Coverage under the TAG is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. The TAG was established in Oct. 2008 as part of the FDIC’s Temporary Liquidity Program. The program offered insured institutions the ability to receive unlimited deposit insurance coverage for funds held in qualifying non-interest-bearing transaction accounts. The TAG was intended to facilitate liquidity and stability in view of the economic crisis of late 2008 and 2009. The TAG was scheduled to expire on Dec 31, 2009, but the FDIC has decided to extend the program for an additional six months. While noting evidence ...

Keefe, Bruyette notes that on Monday, the House rejected legislation creating a Troubled Asset Relief Program, 205-228. In the wake of the vote, Congress is trying to pick up the pieces and pass the bill. Firm thinks it will take a few days to put a deal back together. In the end, they continue to believe that a bill will be passed.Washington failed for several reasons to pass the TARP. However, Wall Street's reaction to the failure will, in Keefe's opinion, move Congress to finish the bill in several days.Political leadership in both parties needs to do a better job of convincing voters of the need for the TARP and they think the market's reaction to the bill's failure will help them make that case.Cooler heads will, in their opinion, prevail over the coming days. House members will need a few days to decompress ...