Barclays, RBS Line Up Emergency Fed Funds

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Source: Wall Street Journal

Two major United Kingdom banks have lined up a total of $30 billion in emergency funds from the U.S. Federal Reserve, with analysts expecting other European investment banks to follow.

The Fed recently lifted requirements on how much Barclays PLC and Royal Bank of Scotland Group PLC can lend U.S. broker affiliates, according to the central bank's Web site. The move allows Barclays to lend up to $20 billion and RBS to lend up to $10 billion, following similar easing of requirements for Citigroup Inc., Bank of America Corp. and Deutsche Bank AG in recent months.



Read more: http://online.wsj.com/article/SB119304834683966959.html?mod=googlenews_wsj

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