An asset purchase program refers to a strategy employed by central banks, governments or other institutions to increase their holdings of financial assets in order to stimulate economic growth and stabilize markets. This is typically done through large-scale purchases of securities such as treasury bonds, mortgage-backed securities, or corporate debt, with the aim of increasing liquidity, lowering interest rates, and providing support to financial institutions. The program can also involve direct investments in companies or other assets deemed important to the economy.