BOSTON (Reuters) – General Electric Co (GE.N) has secured the temporary backing of the Federal Deposit Insurance Corp for up to $139 billion of the debt of its finance arm, a spokesman said on Wednesday.
"We are eligible now and included in the FDIC temporary liquidity guarantee program," said Russell Wilkerson, a spokesman for the U.S. conglomerate.
"This allows us to source our debt competitively with other financial institutions that are eligible. It certainly helps put us on a level playing field with other issuers," he said, adding, "It's beneficial to us in the market and it's part of a very clear plan and a number of decisive steps here to strengthen our liquidity plan through this volatile time."
