What are the default Time Travel and Fail-safe retention periods for transient tables?

Transient tables in Snowflake have a default Time Travel retention period of 1 day, which allows users to access historical data within the last 24 hours. However, transient tables do not have a Fail-safe period. Fail-safe is an additional layer of data protection that retains data beyond the Time Travel period for recovery purposes in case of extreme data loss. Since transient tables are designed for temporary or intermediate workloads with no requirement for long-term durability, they do not include a Fail-safe period by default1.