RBS Shares......
Discussion
LONDON, Feb 26 (Reuters) - Britain launched a scheme on Thursday which could end up insuring more than 500 billion pounds worth of toxic assets in a bid to get lending in the recession-hit economy flowing again.
British retail banks with more than 25 billion pounds in eligible assets will have until March 31 to take part in the Asset Protection Scheme which will run for a minimum of five years.
Royal Bank of Scotland, already 70 percent owned by the taxpayer, said on Thursday it would put 325 billion pounds of its assets into the scheme. LLoyds Banking Group is expected to put in another 200 billion pound worth on Friday.
"The scheme aims to target those assets where there is the greatest amount of uncertainty about their future performance,"
So the Government issue a statment, share prices rocket and they cash in, kinda like the VW/Prosche thing a while ago :P.
British retail banks with more than 25 billion pounds in eligible assets will have until March 31 to take part in the Asset Protection Scheme which will run for a minimum of five years.
Royal Bank of Scotland, already 70 percent owned by the taxpayer, said on Thursday it would put 325 billion pounds of its assets into the scheme. LLoyds Banking Group is expected to put in another 200 billion pound worth on Friday.
"The scheme aims to target those assets where there is the greatest amount of uncertainty about their future performance,"
So the Government issue a statment, share prices rocket and they cash in, kinda like the VW/Prosche thing a while ago :P.
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