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Banking: Asset Protection Scheme

Volume 712: debated on Tuesday 14 July 2009


Asked by

To ask Her Majesty's Government what right HM Treasury has reserved to amend the terms of the Asset Protection Scheme (APS) in the case of (a) a change in the value of the assets, (b) the time taken to agree the final terms of the APS, and (c) a change in the overall economic outlook. [HL4843]

The Treasury and its advisers are continuing to work with participating banks to conduct due diligence on the assets intended for inclusion in the scheme. Further detailed information will be provided after the final contracts are signed.