RBS may need more taxpayer funds to nurse the state-controlled lender back to health, Alistair Darling said yesterday hours after announcing a £33.5bn bailout package for the bank — the biggest of its kind in the world.
Unveiling details of increased bailout funds for RBS and Lloyds Banking Group, the Chancellor told MPs that RBS "may need more capital" in order to help the bank to return to stability, The Times reports. The Treasury said that it would inject a further £25.5bn of taxpayers' funds into RBS to prop up the lender, along with a new £8bn pot of reserves intended for emergencies only. Mr Darling also announced a new capital injection of £5.7bn for Lloyds, in which the Government holds a 43% stake. The total bailout for the two banks now stands at £76bn, the equivalent of almost 17p in the pou...
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