2008 Credit Guarantee Scheme


The 2008 Credit Guarantee Scheme formed part of the Government’s measures announced on 8 October 2008 to ensure the stability of the financial system and to protect ordinary savers, depositors, businesses and borrowers. In summary these measures were intended to:

  • provide sufficient liquidity in the short term;
  • make available new capital to UK banks and building societies to strengthen their resources, permitting them to restructure their finances, while maintaining their support for the real economy; and
  • ensure that the banking system had the funds necessary to maintain lending in the medium term.

The Scheme became operational on 13 October 2008 and closed to new issuance on 28 February 2010. The Scheme closed when the final guarantee expired on 26 October 2012.

Details on the Scheme and related information appear below

Operation of the Scheme

Market notices and press releases

The following information and press releases relating to the Credit Guarantee Scheme appear on the HMT website