Tuesday 24 November 2009

Bank of England propped up RBS, HBOS with £61.6bn in emergency loans at height of crisis

Telegraph
"Royal Bank of Scotland and HBOS received £61.6bn in emergency loans last October, the Bank of England said as it revealed for the first time the scale of crisis that brought Britain's financial system close to collapse."
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Bank gave RBS and HBOS 'secret' £62bn loan (The Times)
"Royal Bank of Scotland (RBS) and HBOS were secretly kept afloat with £62 billion of emergency Government support at the height of the credit crisis last year, it was revealed today.The Bank of England kept the massive liquidity injections secret until today, when it judged calm had been restored and there was no longer any need for secrecy."
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Bank of England gave RBS and HBOS £61.6bn in 'secret' loans at height of credit crisis (Daily Mail)
"The Bank revealed for the first time the details of its Emergency Liquidity Assistance (ELA) to both banks in a submission to the Treasury Select Committee."

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