UK to partially nationalize banks
Brad Franko
Advertisement
Text size: small | medium | large
By Brad Franko
Anchor
Published: October 8, 2008
The British government has announced an $87.5 billion plan to partially nationalize its major banks in a bid to restore economic stability.
The Treasury made the announcement Wednesday before markets opened, saying eight banks have signed up for the so-called recapitalization plan. The plan offers up to $87.5 billion in the
form of preference shares.
The Treasury said the eight banks are Abbey, Barclays, HBOS, HSBC, Lloyds TSB, Nationwide Building Society, Royal Bank of Scotland and Standard Chartered.
Post a Comment
The commenting period has ended or commenting has been deactivated for this article.
Can't find what you're looking for? Try our quick search:
