Kaupthing approved loans worth €2bn (£1.69bn) for Alisher Usmanov, the billionaire behind Arsenal FC, less than two weeks before the Icelandic bank went bust.
Iceland's biggest bank failed in early October 2008, hitting 150,000 British savers with Edge internet accounts. It still owes the UK Treasury £2.5bn for stepping in to compensate customers, the Telegraph reports.
Minutes of a credit committee show Kaupthing was still showering businessmen, including Usmanov, with offers of money on 24 September.
The leaked documents show Kaupthing's loan to Usmanov would have been more than double the 25% limit for exposure to a single party. It also emerges that Usmanov owned a 1.5% stake in the bank.
At this meeting, the credit committee agreed to loans totalling just over 100% of the bank's equity base - many to connected parties, including City tycoons Kevin Stanford and Robert Tchenguiz.
RBS in talks to quit state protection plan
RBS and officials at the Treasury are examining ways the part-nationalised bank could exit early from the government's costly Asset Protection Scheme (APS), the Financial Times reports.
APS is an insurance structure designed to provide a government backstop for an original portfolio of £280bn ($445bn) of bad or risky assets.
The bank could leave the scheme by the end of this year. Until now Stephen Hester, RBS's chief executive, has maintained that 2012 was the earliest possible exit date.
The APS, for which RBS pays a £700m-a-year insurance premium, was designed to run indefinitely with a minimum cumulative charge of £2.5bn.
This month the bank paid its latest instalment, bringing the total cost so far to £2.1bn, making the end of this year a key cut-off which could save the bank £100m.
British Airway's last day on the stock exchange
Almost a quarter century of stock market history draws to a close tonight, when the British Airways name is removed from Stock Exchange screen, the Telegraph reports.
From Monday, the shares will trade as International Airlines Group, after the £5.3bn all-share merger between it and Spain's Iberia.
BA was listed on 11 February 1987 at 125p a share and has given shareholders a turbulent ride ever since - underperforming the stock market by a sizeable margin.
While BA shares closed at 282.5p - a mere 126% gain - the market has powered 213% higher since that date in 1987.
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