UK govt unveils £37bn bail-out for three banks

A dramatic rescue of British banking was under way today after the UK government unveiled a £37bn (€46.6bn) bail-out for three of Britain’s biggest banks.

UK govt unveils £37bn bail-out for three banks
Mon, 13 Oct, 2008 - 08:51

A dramatic rescue of British banking was under way today after the UK government unveiled a £37bn (€46.6bn) bail-out for three of Britain’s biggest banks.

Royal Bank of Scotland (RBS) is to raise £20bn (€25bn) of new capital through a government-guaranteed £15bn (€18.9bn) share issue and a £5bn (€6.3bn) government cash injection.

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