Asset Guarantee Program (AGP) - Financial definition
Concise definition of the term Asset Guarantee Program
The AGP was a joint program of Treasury, the Federal Reserve, and the FDIC in the United States. Created in 2009, it involved supporting the value of certain assets held by qualifying financial institutions by agreeing to absorb a portion of losses on those assets.
Comprehensive definition of the term Asset Guarantee Program
Created in the wake of the subprime crisis, it was designed to support institutions whose failure would have caused serious harm to the financial system and the broader economy.
Two institutions received assistance under the AGP - Bank of America and Citigroup.