Banks set for 45 billion pound rescue

By John Bowker and Ralph Gowling LONDON (Reuters) - Britain could pump about 45 billion pounds into four troubled major banks and take big stakes as part of a recapitalisation due to be unveiled on Monday, sources familiar with the situation said. Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays were in line to receive the billions of pounds from investors and taxpayers in a bid to rescue them from the impact of the global credit crisis, said the sources, declining to be named. Media reports said Barclays was trying to raise cash from private investors rather than the government, but that the other three banks were expected to tap into a huge cash-pile made available by the government. The rescue plan could result in the government becoming the biggest shareholder, and even a majority investor,... [read full story]                    

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