FACTBOX: Key points of second UK bank rescue plan

LONDON (Reuters) - Britain unveiled a second bank rescue package on Monday in an effort to get lending flowing again in an economy lurching into its first recession since the early 1990s.

Below are some key features of the plan.

INSURANCE SCHEME

* Banks will have to identify their riskiest assets which they can then insure against future losses with the government for a fee. They will still be liable for initial losses but could at least put in a ceiling, hence boosting confidence.

Each institution will be expected to retain a further exposure of around 10 percent above the first loss. Banks will need to ring-fence the assets and will also be expected to commit to support lending into the economy in return for participation in the scheme.

The government will hold talks with the banks and examine their assets to come to an agreement on what will be charged for the insurance. This is expected to take several weeks.

CREDIT GUARANTEE EXTENSION

* An extension of the window for the Credit Guarantee Scheme to December 31 from Apr. 9. Under this, the state guarantees debt issued by banks that were recapitalized by the government last year. The final maturity date of Apr. 9, 2014 remains in place.

All other aspects of the scheme remain the same.