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U.K. Unveils Plan to Prop Up Banks

Stock quotes in this article: RBS , BCS  

Updated from 1:52 a.m. EDT

The U.K. government Wednesday unveiled a rescue package for the U.K. banking sector in which it will invest up to 50 billion pounds ($87 billion).

The government will buy preference shares, and the Bank of England will make at least 200 billion pounds available for banks to borrow. The government also will provide a guarantee of about 250 billion pounds to help refinance debt, Bloomberg reports. ...

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