Record rescue RBS
the British authorities will give it from above 40 mlrd dollars
the Government of Great Britain on Tuesday has started the program on re-structuring of banks with large state participation. Granting of the next stabilising credit at a rate of 25,5 mlrd pounds sterling (41,7 mlrd dollars) to bank Royal Bank of Scotland Group (RBS) became the first step. At the same time it and other big bank, Lloyds Banking Group, earlier also got financial support from the state, will be compelled to sell a part of actives. According to experts, influence of the state on a policy of financial institutions will sharply increase, but in most cases it is a comprehensible payment for their survival.
as a result of re-structuring the state participation in RBS will be increased with 70,3 to 84,4 %. The total volume of the help from the authorities will reach 45,5 mlrd pounds (74,5 mlrd dollars) That becomes the record sum, when - or going in the world on rescue of one bank. However, it is necessary to pay off for this help RBS with a part of actives. The matter is that earlier the Eurocommission has seen signs of infringement of a competition in so powerful state support and has insisted on reduction of the sizes of the financial giant. Following the results of negotiations RBS has promised to sell the branches in England and the Wales, the Scottish divisions of bank NatWest, and also to leave insurance companies Churchill and Direct Line. It is expected that the Eurocommission as a whole will approve the plan of re-structuring RBS this week.
it is necessary to say goodbye to a part of actives and Lloyds which on 43 % is supervised by the government. However, its position is slightly better, than at RBS. On Tuesday Lloyds declared additional placing of actions on 21 mlrd pounds (34 mlrd dollars) That will allow bank to leave a government program on insurance of actives which provided increase in a share holding of the government to 62 %. However, completely to get rid of the state guardianship to bank Lloyds it will not be possible: the authorities will give it 5,8 more mlrd pounds (9,5 mlrd dollars) The help also will reserve a considerable package. Lloyds it will be compelled to sell Cheltenham and Gloucester, divisions Lloyds TSB and the Internet - bank Intelligent Finance.
According to experts, influence of the state on a policy of financial institutions following the results of global crisis will continue to grow not only in Great Britain, but also in other European countries. However, in most cases it should be considered as a reasonable payment for rescue from financial crash. “ the authorities of the European countries are compelled to look after more attentively a financial system and, accordingly, to supervise it. I think, as now, and upon termination of crisis this influence will be essential “ - the director of exchequer of the Euroasian bank of development Sergey Yelagin has told daily.