As a result of the financial crisis, HM Treasury has taken a stake in a number of banks.
RBS, in which our stake is managed at arm's length according to commercial principles, is part of the Asset Protection Scheme (APS). Details of assets covered in the scheme were published on 7 December (‘Royal Bank of Scotland: details of Asset Protection Scheme and launch of the Asset Protection Agency’, available on the HMT website at:
http://www.hm-treasury.gov.uk/financial_stability_agreements.htm)
Any actual liability to HM Treasury occurs only in a stress scenario where the scheme is triggered. The expected loss from the APS is £0.
Lloyds Banking Group did not participate in the APS and therefore the Government have not offered protection for any assets they hold. It is a decision for Lloyds as to the nature of particular disclosures, which can be seen in their published accounts.
Bradford and Bingley and Northern Rock are also run at arm's length according to commercial principles and so it is their decision as to the nature of particular disclosures. Foreign currency liabilities can be seen in their published accounts.
Banks in which the Government have no stake are not required to submit information to HM Treasury on the nature of their liabilities. As such, it is impossible to isolate the impact of banks' foreign currency liabilities on the economy as a whole.