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UK Banking Bailout £500 billion or $870.95 billion

1715 3
the british Government spend up to £50 billion on buying priority shares in the banks in order to boost their capital.

In addition the Government will make £250 billion available to underwrite the banks' medium-term debts in an attempt to prevent a disastrous funding gap in the next few years

The Bank of England will inject a further £200 billion into the money markets under its Special Liquidity Scheme - the deal which sees banks swap risky mortgages for Treasury bonds

The Treasury announced that the following banks had confirmed they would seek Government help under the scheme: Abbey, Barclays, HBOS, HSBC Bank plc, Lloyds TSB, Nationwide Building Society, Royal Bank of Scotland (RBS) and Standard Chartered.

i will make no personnel comments on this as the swearing filter will block % 80 of them.

ING has signed a deal to take over £ 3 billion of deposits of uk savers in icelandic banks
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