RBS Group plc, Lloyds TSB plc and HBOS Group plc have announced the terms on which they are participating in the Government’s recapitalisation scheme. Details are set out in the Placing and Open Offer Agreements that are available in the Libraries of both Houses of Parliament.
These banks are also eligible to use the Government’s Credit Guarantee Scheme (CGS), under which up to £250 billion of bank lending will be guaranteed. Participating banks have accessed some £100 billion of funding under the CGS so far. A list of participating institutions is published by the Debt Management Office at
Figures for individual banks are confidential. As the Chancellor of the Exchequer noted on 19 January, these guarantees have been successful in helping to bring down the inter-bank lending rate.