Banks set to seek £30bn in cash calls


	Banks set to seek £30bn in cash calls

JICWyllie

4-20-2008 8:09 AM

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economy, financial markets, i-losses, i-consequences

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f8003559-31b0-48ca-981c-36eff96adcd7/6E47346C-66B8-4A62-9FD2-2625A0B61558/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/apr/20/royalbankofscotlandgroup.banks" href="http://www.guardian.co.uk/business/2008/apr/20/royalbankofscotlandgroup.banks" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/apr/20/royalbankofscotlandgroup.banks"><P>A board meeting today at Royal Bank of Scotland in Edinburgh is expected to approve the biggest rescue rights issue in UK corporate history with plans to raise about £11bn.</P><P>This decision is expected to provoke other leading British banks, including Barclays and HBOS, to ask their shareholders for a further £20bn over the next few months to repair balance sheets ravaged by the global financial crisis. Even those who don't feel an immediate need will not want to be left behind in the rush for the finite supply of investors' money.</P><P>Analysts estimate that HBOS may have to raise as much as £10bn, Barclays £8bn, and even Lloyds TSB - which has very little exposure to the kind of toxic financial instruments that are costing others billions - could need £4bn.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6E47346C-66B8-4A62-9FD2-2625A0B61558/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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