Since the government seized the firms, that guarantee has explicit government backing.

But debt holders, who already see explicit government support for the companies, would be untouched.

CHARTER Should there be an explicit government guarantee for mortgages behind the charter for a new firm?

But they want an explicit government guarantee.

Speaking in Scotland, the prime minister will claim that she made strengthening the Union an explicit government priority.

China has already barred its airlines from taking part in the scheme unless they receive explicit government approval to do so.

Earlier this week, Treasury Secretary Steven Mnuchin told Bloomberg that he would prefer an explicit government backstop of Fannie and Freddie securities.