Bank reveals £61.6bn RBS/HBOS loans

Nov 24 2009

Emergency loans to Royal Bank of Scotland (RBS) and HBOS peaked at £61.6 billion at the height of the financial crisis, the Bank of England has said.

The Bank revealed for the first time the details of its Emergency Liquidity Assistance (ELA) to both banks in a submission to the Treasury Select Committee.

The duo put up collateral worth more than £100 billion in return for the loans as the financial system was rocked by the failure of Lehman Brothers.