RBS and Lloyds TSB / HBOS to lend at 2007 levels again

Although it is difficult to quantify the difference it will make, it is safe to say that it will mean a significant increase in lending from the current depressed levels.

It was also announced today that any bank taking geoverment capital in the form of preference shares would not be allowed to pay a dividend until the preference shares had been redeemed in full.