UK Bailout Plan Announced

October 2008 | Corporate Financing News Alert

On October 8 the UK government announced a bailout plan to rescue the country's largest banks. The GBP500bn (US$860bn) plan will make funds readily available for eight of the country's banks, Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide Building Society, Royal Bank of Scotland and Standard Chartered, after stocks in the banks fell dramatically in the days and weeks leading up to the announcement.

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