Rbs Backing Bids Despite Hard Knocks in Sub-Prime Catastrophe

Daily Mail › November 21, 2007

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Summary

ROYAL Bank of Scotland has emerged as a key financial backer for two of the Northern Rock bids - despite fears that it has already lost more than Pounds 500m because of America's sub-prime mortgage crisis.

Shares in the bank have been hammered amid concerns that it will soon announce massive writedowns on mortgage related investments.

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Rbs Backing Bids Despite Hard Knocks in Sub-Prime Catastrophe

But it has signalled that it is willing to guarantee loans to Northern Rock's...

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