Darling says UK government is starting to rebuild banking system
UK Chancellor Alistair Darling said the government's plans to rebuild the financial sector include divestments by Northern Rock, Royal Bank of Scotland and Lloyds Banking Group, as well as the possibility of entrants into markets. "I would hope that you would have perhaps three new entrants over the next few years," Darling said. He said the government is preparing to spin off profitable Northern Rock operations. "I will only sell when the conditions are right and when we get our money back," he said.
Bloomberg | 01 Nov.
This story published in SIFMA Global SmartBrief on 11/02/2009
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