Tel: 0845 458 2633
Government agrees on funding
RBS has been told by the Treasury that it has reached an agreement that will include the stricken bank in its Asset Protection Scheme. RBS will receive a capital injection of £13 billion and a commitment from the Government to subscribe for an additional £6 billion at RBS’s option.
RBS has assets of £325 billion and will pay the scheme in the region of £6.5 billion to the Treasury in capital.
The scheme introduced by the Government was a part of a bigger compensation package to support the banks. It provides protection against future losses on the more risky assets enabling the banks to offer confidence and trust amongst financial institutions and its customers.
To be included in the scheme the banks have to pay a fee and promise to increase the amount of lending they offer to borrowers including businesses. The banks taking part will be required to review their remuneration policy and meet the highest international standards of transparency.
The information contained within these news articles may include reference to taxation, legislation, regulation and other issues or concerns that may no longer apply.
Your property may be repossessed if you do not keep up repayments on your mortgage.
For more information on how we are paid for mortgages please click here.Grovelawn Financial Services, 3b Restormel Industrial Estate, Liddicoat Road, Lostwithial PL22 0HD — T: 0845 458 2633
Grovelawn Financial Services is a trading style of Grovelawn Limited
Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
Consumer Credit Licence Number: 573287