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Empresas y finanzas

UK banks to take $64 billion in government funds


    LONDON (Reuters) - Three major British banks could take 37 billion pounds ($64 billion) in government money to boost their capital, the UK Treasury said.

    Royal Bank of Scotland said in a statement it will boost its capital by 20 billion pounds, including the UK government taking 5 billion pounds in preference shares and 15 billion pounds underwritten by the government.

    HBOS and Lloyds TSB will also participate in the government scheme "upon successful merger," the Treasury said in a statement on Monday.

    Barclays said in a separate statement it would boost its capital by more than 6.5 billion pounds but expected to do so without government help.

    Banks will try to sell shares to existing investors, backed up by the government, which will buy the shares not taken up.

    RBS chief executive Fred Goodwin resigned and will be replaced by Stephen Hester, chief executive for British Land.

    The rescue plan could result in the government becoming the biggest shareholder, and even a majority investor, in Royal Bank of Scotland and a combined HBOS/Lloyds TSB.

    In addition to potentially taking ordinary shares, the government will provide capital in return for preference shares, which could pay an annual dividend of about 10 percent but typically do not have voting rights.

    (Editing by Andrew Callus)