We use necessary cookies to make our site work (for example, to manage your session). We’d also like to use some non-essential cookies (including third-party cookies) to help us improve the site. By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies.

Necessary cookies	Analytics cookies
Yes	Yes
Yes	No

Necessary cookies

Necessary cookies enable core functionality on our website such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytics cookies

We use analytics cookies so we can keep track of the number of visitors to various parts of the site and understand how our website is used. For more information on how these cookies work please see our Cookie policy.

Skip to main content

Recapitalisation of the UK Banking System

The Bank of England believes the measures announced by the Government this morning are an important step forward in stabilising the financial system. The Bank will play its full part in implementing the plans.

Published on 08 October 2008

Commenting on the announcement, Mervyn King - Governor of the Bank - said: "A major recapitalisation of the UK banking system of at least £50 billion is a necessary condition for regenerating confidence in the financial system. The recapitalisation, further liquidity support from the Bank of England and the new guarantee scheme amount to a significant step forward in resolving the present crisis".

// News // Minutes

// News // News release

// News // Market notice

// News // Minutes

View more Other news

Thanks! Would you like to give more detail? Press Spacebar or Enter to select