Asset Guarantee Program

Key Facts

• The Asset Guarantee Program (AGP) was a joint program of Treasury, the Federal Reserve, and the FDIC. It involved supporting the value of certain assets held by qualifying financial institutions by agreeing to absorb a portion of losses on those assets.
• 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. 
• The program began in January 2009 and is now closed. To date, taxpayers have earned more than $3 billion in positive returns from the AGP.