HM Treasury

Newsroom & speeches

Special assistance for HBOS and RBS - October 2008

In the Autumn of 2008, the Bank of England provided emergency assistance as lender of last resort to the Royal Bank of Scotland and HBOS. The assistance was confidential at the time due to extreme global market conditions.

With the banking market having significantly stabilised, the Chancellor of the Exchequer has today written to the Chairman of the Treasury Select Committee and the Public Accounts Committee to explain the actions taken by the Bank and the Government.

Back to top