Following are details about major bank bailouts since September:
AUSTRIA:
Nov. 3, 2008 — Buys 99.8 percent of Kommunalkredit for a nominal sum and says will inject fresh capital. Takes 49 percent stake of Franco-Belgian group Dexia and the 50.8 percent stake of Oesterreichische Volksbanken AG for 1 euro each.
* BELGIUM, FRANCE, LUXEMBOURG & NETHERLANDS:
September — Belgian, French and Luxembourg governments and shareholders pledge 6.4 billion euros ($8.45 billion) to bail out Franco-Belgian bank Dexia.
Sept. 29 — The Belgian, Dutch and Luxembourg governments agree to inject 11.2 billion euros into Fortis. Each government would take a 49 percent stake in Fortis banks in their respective countries.
* BRITAIN:
Sept. 29 — Nationalises Bradford & Bingley, saying the Treasury would take over its 50 billion pound ($70.55 billion) mortgage portfolio, and sell its deposits and branches to Spanish bank Santander.
Oct. 13 — Announces plans to give Royal Bank of Scotland (RBS), Lloyds TSB, and HBOS a 37 billion pound ($64 billion) cash injection. The government would take equity stakes in each of the banks.
Nov. 28 — Buys 58 percent stake in RBS for 15 billion pounds after shareholders shun bank's share offer
Jan. 19, 2009 — Launches a second bank rescue plan, under which the Bank of England would set up an asset purchase programme to buy private sector assets with an initial fund of 50 billion pounds
* DENMARK:
Sept. 22 — Central bank stepped in to secure liquidity at Ebh Bank. Ebh did not say how much liquidity it had received, or which Danish banks joined with the central bank in the cash booster.
* GERMANY:
Sept. 29 — Agrees to provide the bulk of 35 billion euros in credit guarantees for Hypo Real Estate. Commercial banks and insurers agree on Oct. 5 to provide another 15 billion euros in liquidity to Hypo in deal brokered by the government.
Dec. 1 — State of Bavaria says it will inject 10 billion euros into BayernLB, the lender it partly owns. BayernLB would get a further 20 billion euros of state guarantees.
Jan. 8, 2009 — Commerzbank says the government to take stake of 25 percent plus one share. Bank would get a total of 18.2 billion euros in state capital plus 15 billion in guarantees.
* GREECE:
Jan. 27, 2009 – Greece said it will spend up to 5 billion euros to boost banks' capital through the purchase of preferred shares.
— Under the plan, National Bank will get a capital boost of 350 million euros, EFG Eurobank and Alpha Bank 950 million each, Piraeus Bank 370 million and ATEbank 675 million euros.
* ICELAND:
Sept. 29, 2008 — Agrees to buy a 75 percent stake in Glitnir for 600 million euros ($878 million).
Oct. 7 — Takes control of Landsbanki
Oct. 9 — Takes control of Kaupthing
* IRELAND:
Jan. 15, 2009 — Nationalises Anglo Irish Bank. Government had already agreed in December to inject an initial 1.5 billion euros of core tier 1 capital via preference shares for 75 percent of all voting rights in the bank.
* UNITED STATES:
Oct. 14, 2008 — Announces plans to take equity stakes worth up to $250 billion in financial institutions, with half going to Citigroup Inc, JPMorgan Chase, Morgan Stanley, Goldman Sachs Group, Bank of America Corp and Merrill Lynch & Co, Wells Fargo & Co, State Street Corp and Bank of New York Mellon Corp. Nov. 23 — Announces rescue package for Citigroup Inc, agreeing to shoulder most losses on about $306 billion of the bank's risky assets. A further $20 billion of new capital is offered the following day. Jan. 16, 2009 — Gives Bank of America Corp a $20 billion bailout and a guarantee for about $100 billion of potential losses on toxic assets.
