Tuesday, Nov 24, 2009
BOE funding of HBOS & RBS
Citywire: Bank of England lent RBS and HBOS £61.6bn BEFORE bailout
The Bank of England provided emergency funding of £61.6 billion to crisis hit banks at the height of the financial crisis last year, governor Mervyn King has revealed. Giving details for the first time of emergency funding provided to HBOS prior to its takeover by Lloyds, as well as to Royal Bank of Scotland (RBS), King confirmed that the loans were made to the banks last year before being wrapped up in early 2009.
Posted by jack c @ 01:02 PM (406 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Daniel said...
I do not understand how they can completely unaccountably, lie to absolutely everyone.
The markets, the shareholders, the public, whose £61 Billion [!!!!!] they have taken without any consent, or even notification.
I really really do not understand how they can get away with this.
Theft, Insanity, cover ups.
Can anyone enlighten me?
2. rumble said...
Nice to see nothing's being kept from us.
3. jack c said...
Comments section below article well worth a read - looks like someone else has come to the conclusion the housing bubble contibuted heavily to the collapse.