News Tag: emergency loans

November 24, 2009

BoE reveals £62bn lending to RBS and HBOS

by Kay Murchie
The Bank of England has today revealed that it lent £62 billion in emergency loans to Royal Bank of Scotland (RBS) and HBOS in autumn 2008 - at the height of the financial crisis. At a parliamentary hearing, the Bank’s Governor, Mervyn King, said it "was to prevent a loss of confidence spreading through the financial system as whole" ...

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