Treasury Forecasts £77bn Loan Losses For Lloyds And Rbs

[piece of paper]

http://www.bbc.co.uk/blogs/thereporters/ro...7bn_loan_l.html

"Or to put it another way, the Treasury would not and will not incur a penny of loss on the Asset Protection Scheme unless and until Royal Bank of Scotland suffers £42.2bn of additional eye-watering losses on those £325bn of loans and investments and Lloyds incurs £35.2bn of losses on its £260bn of insured assets.

It's worth saying that again. Royal Bank and Lloyds - which already reported record losses for 2008 - are expected by the Treasury to suffer further losses on their loans and investments of at least £42.2bn and £35.2bn, or £77.4bn in aggregate."

Love him or loathe him, Mr Peston seems to have a point.

p-o-p

[dalkent]

http://www.bbc.co.uk/blogs/thereporters/ro...7bn_loan_l.html

"Or to put it another way, the Treasury would not and will not incur a penny of loss on the Asset Protection Scheme unless and until Royal Bank of Scotland suffers £42.2bn of additional eye-watering losses on those £325bn of loans and investments and Lloyds incurs £35.2bn of losses on its £260bn of insured assets.

It's worth saying that again. Royal Bank and Lloyds - which already reported record losses for 2008 - are expected by the Treasury to suffer further losses on their loans and investments of at least £42.2bn and £35.2bn, or £77.4bn in aggregate."

Love him or loathe him, Mr Peston seems to have a point.

p-o-p

apart from the fact lloyds hasn't signed up for the Asset Protection Scheme yet.