Monday, October 13, 2008

Breaking News-RTRS-British banks set for 40 bln stg rescue-source

LONDON, Oct 13 (Reuters) - Britain could pump more than 40 billion pounds ($69 billion) into four troubled major banks and take big stakes as part of a recapitalisation due to be unveiled on Monday, sources familiar with the situation said.
Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays were in line to receive the billions of pounds from investors and taxpayers to boost their capital to prepare them for tough economic times ahead, said the sources, declining to be named.