Asset Protection Agency
Encyclopedia
The Asset Protection Agency is an executive agency
of the Government of the United Kingdom
, operating as part of HM Treasury
. The Agency was created in response to the late-2000s recession (caused by the financial crisis of 2007–2010) to implement the Asset Protection Scheme, part of the 2009 United Kingdom bank rescue package
.
Executive agency
An executive agency, also known as a next-step agency, is a part of a government department that is treated as managerially and budgetarily separate in order to carry out some part of the executive functions of the United Kingdom government, Scottish Government, Welsh Assembly or Northern Ireland...
of the Government of the United Kingdom
Government of the United Kingdom
Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers...
, operating as part of HM Treasury
HM Treasury
HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy...
. The Agency was created in response to the late-2000s recession (caused by the financial crisis of 2007–2010) to implement the Asset Protection Scheme, part of the 2009 United Kingdom bank rescue package
2009 United Kingdom bank rescue package
A second bank rescue package totalling at least £50 billion was announced by the British government on 19 January 2009, as a response to the ongoing global financial crisis. The package was designed to increase the amount of money that banks could lend to businesses and private individuals...
.