Posts Tagged ‘banking system news’

Treasury reveals rescue for UK Banks

Wednesday, October 8th, 2008

The Chancellor, Alistair Darling has announced details of the much anticipated rescue package for the banking system worth an initial £25bn and could increase to as much as £50bn.

This will initially make the extra capital available to eight of the UK’s largest banks and building societies namely; Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide Building Society, Royal Bank of Scotland and Standard Chartered. (more…)