Bank of England tells of secret £62bn loan to save RBS and HBOS
The Bank of England secretly lent £61.6bn to Royal Bank of Scotland and HBOS at the height of the financial crisis to prevent their immediate implosion, it said on Tuesday.
Telegraph 24 Nov 2009
Or, you could read the story five months earlier...
"the government bailed out the failing banks, Northern Rock, Bradford & Bingley, Lloyds and the Royal Bank of Scotland through the Bank Recapitalisation Fund supported by £500 billion of government money - in fact the fund is making payments to many more banks, but secretly to avoid panicking markets."
James Heartfield, 'State Capitalism in Britain', Mute magazine, 24 June, 2009 http://www.metamute.org/content/state_capitalism_in_britain