WASHINGTON — In one of the first concrete steps the government has taken to unwind itself from the banking industry, the Federal Deposit Insurance Corp. said Tuesday it would let its debt guarantee program expire at the end of the month while leaving a six-month window to deal with near term emergencies.

The agency's final rule would let banks that have participated in the Temporary Liquidity Guarantee Program issue new guaranteed debt after Oct. 31 under certain conditions, but face significantly higher fees if they do so.

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