Credit Guarantee Scheme
From ACT Wiki
Jump to navigationJump to search
Credit risk - credit insurance - UK.
(CGS).
A former UK Treasury scheme under which banks and other financial institutions could obtain credit insurance effectively backed by the government, in return for a fee (designed to be calculated on a full commercial basis).
The CGS was launched in 2008 with the aim of making it easier for financial institutions to borrow money.
The CGS closed in 2012.
(The former CGS should not be confused with the UK Export Credits Guarantee Department, which relates to exports from the UK.)
