22
Jun/090
Jun/090
Government Asset Protection Scheme
The new Government Protection Scheme will insure banks against asset losses and they will therefore be able to commit more to lending.
RBS had currently signed and now Lloyds have signed up to the scheme which will see them lending around £28 billion.
However, the Government has said that although taxpayers will eventually get something back, they “do not plan on nationalising the banking sector”.
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