BRUSSELS, Oct 27 (Reuters) - European Union regulators on Tuesday approved the prolongation of a UK asset-backed securities guarantee scheme, part of Britain's measures to support the banking industry during the economic crisis.
The European Commission backed the extension of the measures, initially approved on April 21, until Dec. 31.
"The extended measures are limited in time and scope. The Commission has therefore concluded that they represent an appropriate means of remedying a serious disturbance in the UK's economy," a Commission statement said. (Reporting by Dale Hudson)