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Banks: Finance

Volume 494: debated on Monday 22 June 2009

To ask the Chancellor of the Exchequer what assessment he has made of the effect on the economy of the Government guarantee scheme for asset-backed securities; and if he will make a statement. (280634)

In the 2009 Budget, the Government announced that the asset-backed securities guarantee scheme is available for banks and building societies to use alongside the existing credit guarantee scheme, to support their lending to the economy:

http://budget.treasury.gov.uk

The Government will keep the operation of the scheme under review, though it is too early to assess its impact.