BBC NEWS | Business | EU approves UK finance measures


The changes relate to fees paid by banks to the government, and increase the number of currencies in which government guarantees can be issued.

The commission also approved rescue measures for Germany, Italy and Spain.

The decisions should clear the way for more cash injections and loan guarantees to troubled banks.

Common approach

The changes bring the British package in line with those of other EU members.

“The commission therefore concluded that the UK support measures, as amended, are compatible with the common market,” a commission statement said.

From the start of next year, the fee payable to the government on guaranteed liabilities will be based on an annual rate 0.5% plus the financial institutions standard five-year credit default swap rate.

via BBC NEWS | Business | EU approves UK finance measures.

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on December 23, 2008, in Bank Stocks, Financial Markets, GDOW, Global and tagged , , , . Bookmark the permalink. Leave a comment.

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