Top UK government will inject a huge sum of £37bn cash into Royal Bank of Scotland (RBS), Lloyds TSB and HBOS in order to rescue these banks from their financial problems. RBS chief executive Sir Fred Goodwin resigned after the bank was forced to go the Treasury for a bail-out. RBS needs £20bn to save itself.
The UK government will inject another £17bn into HBOS and Lloyds TSB Barclays Bank is also in problem but it says that it would raise £6.5bn without government help. This has been described as the most extraordinary day in British Banking history and an absolute humiliation for the banks.
The bail-out plan means that a huge 60% shares in RBS and 40% in the merged Lloyds TSB and HBOS.
Top UK government will inject a huge sum of £37bn cash into Royal Bank of Scotland (RBS), Lloyds TSB and HBOS in order to rescue these banks from their financial problems. RBS chief executive Sir Fred Goodwin resigned after the bank was forced to go the Treasury for a bail-out. RBS needs £20bn to save itself.
The UK government will inject another £17bn into HBOS and Lloyds TSB Barclays Bank is also in problem but it says that it would raise £6.5bn without government help. This has been described as the most extraordinary day in British Banking history and an absolute humiliation for the banks.
The bail-out plan means that a huge 60% shares in RBS and 40% in the merged Lloyds TSB and HBOS.
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