Russia and Sweden are planning capital injections for their
banking sectors, according to reports, as the number of
industrialized countries stepping in to protect their lenders from
possible collapse grows.
Government sources said Russia plans a 900 billion-rouble ($27.4
billion) capital injection for commercial banks hit by the economic
crisis, while a newspaper in Sweden said the government there was
set to present a plan to offer state capital to its banks.
Following are other bank bailouts since September:
Belgium, France, Luxembourg &
Netherlands
September: Belgian, French and Luxembourg governments and
shareholders pledge 6.4 billion euros ($8.45 billion) to bail out
Franco-Belgian bank Dexia.
Sept. 29: The Belgian, Dutch and Luxembourg governments agree to
inject 11.2 billion euros into Fortis. Each government would take a
49 percent stake in Fortis banks in their respective
countries.
Britain
Sept. 29: Nationalises Bradford & Bingley, saying the Treasury
would take over its 50 billion pound ($70.55 billion) mortgage
portfolio, and sell its deposits and branches to Spanish bank
Santander
Oct. 13: Announces plans to give Royal Bank of Scotland (RBS),
Lloyds TSB, and HBOS a 37 billion pound ($64 billion) cash
injection. The government would take equity stakes in each of the
banks.
Nov 28: Buys 58 percent stake in RBS for 15 billion pounds after
shareholders shun bank's share offer
Jan. 19: Launches a second bank rescue plan, under which the Bank
of England would set up an asset purchase programme to buy private
sector assets with an initial fund of 50 billion pounds
Denmark:
Sept. 22: Central bank stepped in to secure liquidity at Ebh Bank.
Ebh did not say how much liquidity it had received, or which Danish
banks joined with the central bank in the cash booster.
Germany:
Sept. 29: Agrees to provide the bulk of 35 billion euros in credit
guarantees for Hypo Real Estate. Commercial banks and insurers
agree on Oct. 5 to provide another 15 billion euros in liquidity to
Hypo in deal brokered by the government. }
Jan. 8: Commerzbank says the government to take stake of 25 percent
plus one share. Bank would get a total of 18.2 billion euros in
state capital plus 15 billion in guarantees.
Dec. 1: State of Bavaria says it will inject 10 billion euros into
BayernLB, the lender it partly owns. BayernLB would get a further
20 billion euros of state guarantees.
Iceland:
Sept. 29: Agrees to buy a 75 percent stake in Glitnir for 600
million euros ($878 million).
Oct. 7: Takes control of Landsbanki
Oct. 9: Takes control of Kaupthing
Ireland":
Jan. 15: Nationalises Anglo Irish Bank. Government had already
agreed in December to inject an initial 1.5 billion euros of core
tier 1 capital via preference shares for 75 percent of all voting
rights in the bank.
United States:
Oct. 14: Announces plans to take equity stakes worth up
to $250 billion in financial institutions, with half going to
Citigroup Inc, JPMorgan Chase, Morgan Stanley, Goldman Sachs Group,
Bank of America Corp and Merrill Lynch & Co, Wells Fargo &
Co, State Street Corp and Bank of New York Mellon Corp.
Nov. 23:Announces rescue package for Citigroup Inc, agreeing to
shoulder most losses on about $306 billion of the bank's risky
assets. A further $20 billion of new capital is offered the
following day.
Jan. 16: Gives Bank of America Corp a $20 billion bailout and a
guarantee for about $100 billion of potential losses on toxic
assets.
