RBS, Lloyds, HBOS head recapitalisation queue

09 Oct 2008

Up to four of Britain’s biggest banks are likely to tap the UK government’s £50bn recapitalisation scheme over the next few days, in an effort to rebuild their tier one capital ratios up to newly required levels.

Royal Bank of Scotland, Lloyds TSB, HBOS and possibly Barclays are considered the most likely institutions to seek funds quickly from the government, which on Wednesday unveiled a daring, three-pronged £400bn bank rescue plan.

Eight banks were named in the announcement as participating in the scheme — which would ...

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