HM Treasury - Asset-backed Securities Guarantee Scheme

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Slaughter and May is advising HM Treasury, working closely with Treasury Legal Advisers, on the 2009 Asset-backed Securities Guarantee Scheme, a new scheme under which HM Treasury will provide credit guarantees and liquidity guarantees in respect of residential mortgage-backed securities issued under the sponsorship of UK banks and building societies.

The Scheme, originally announced on 19 January 2009 and launched on 22 April 2009, is part of a comprehensive package designed to reinforce the stability of the financial system, to increase confidence and capacity to lend, and in turn to support the recovery of the economy.

The principal members of the team were:

Marc Hutchinson (partner), Guy O’Keefe (partner), Giles Belsey (associate), Emma Corley (associate)