Taxpayer support for UK banks: FAQs – National Audit Office (NAO)

There were two types of support provided:

Provision of guarantees and other non-cash support. The main items under this heading are the Credit Guarantee Scheme, Special Liquidity Scheme and Asset Protection Scheme, as well as various other guarantees and indemnities provided to UK banks.

Provision of cash in the form of loans to the Financial Services Compensation Scheme and insolvent banks to support deposits, and the purchase of share capital in Royal Bank of Scotland and Lloyds Banking Group.

Peak support (£bn)

Guarantee commitments 1,029

Cash outlay 133

Total peak support 1,162

These figures set out our calculation of the total peak support provided to banks, including support that was made available but not used by a specific institution. They are calculated by adding all the support schemes together and removing overlaps.

The peak values have been taken from HM Treasury Annual Report and Accounts, Parliamentary supply estimates and NAO reports to Parliament. As each scheme and support facility was available at different times, the total peak support was not all available at a single point in time.

via Taxpayer support for UK banks: FAQs – National Audit Office (NAO).

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