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Financial services
Guidance on HMT Treasury Credit Guarantee Scheme and Bank Recapitalisation Fund
Credit Guarantee Scheme
Eligible institutions are UK incorporated banks (including UK subsidiaries of foreign institutions) which have a substantial business in the UK and UK building societies. Any other UK incorporated bank (including a UK subsidiary of a foreign institution) may apply to be invited to take part in the scheme. In reviewing these applications, the Government will give due regard to an institution's role in the UK banking system and in the overall economy.
To qualify for Credit Guarantee Scheme, the relevant institution must be an eligible institution and either already have, or have a plan for raising, Tier 1 capital by the amount and in the form the Government considers appropriate, whether by Government subscription or from other sources.
Bank Recapitalisation Fund
Eligible institutions are those institutions eligible under the Credit Guarantee Scheme that wish to utilise Government subscription as a means of raising the Tier I capital in order to qualify for the Credit Guarantee Scheme.
The document is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Media links
- The placing and open offer agreements for the recapitalisation of RBS, HBOS and Lloyds TSB (PDF file, 10.7MB) This is an extremely large file and may take some time to download.
Enquiries
The senior management of interested institutions should contact their line supervisor at the FSA.
The FSA will then consider the institution’s position and/or capital requirements and refer the case to the Standing Committee of the
Tripartite Authorities (the FSA, the Bank of England and HM Treasury).
The final decision will rest with the Government.
The FSA will inform the institution about the final decision.
