The Debt Management Office has announced details of how eligible institutions can use the credit guarantee scheme. UK incorporated banks that have a substantial business in the UK and UK building societies can take part. Within a banking group, only one entity can participate. Other UK incorporated banks may apply. An eligible institution must comply with certain other conditions to participate, in particular raising Tier 1 capital as set out by the Government. The scale of any institution’s access will be based on its sterling defined eligible liabilities. Where an institution meets the tests, Treasury will guarantee specified debt instruments unconditionally and irrevocably for six months from 13 October. The notice also sets out how to calculate fees the institutions must pay. FSA has confirmed the guaranteed securities would have a zero risk weighting for capital adequacy purposes, under the Standardised Approach.