Member Article

Central Bank reveals loans peaked at £61.6 billion

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 said today.

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.

The combined borrowings of both banks - which were charged a fee for the facilities - peaked on 17 October last year, the Bank said.

This was posted in Bdaily's Members' News section by Ruth Mitchell .