FACTBOX - Financial rescue plans by G7 and other countries

Mon Nov 10, 2008 3:22pm GMT
 
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(Reuters) - Governments around the world are announcing rescue plans to support banks and unfreeze credit markets.

Over $5 trillion has been committed to bailing out the financial sector, while regulatory reforms loom and signs of a worldwide recession mount.

Below are details of plans announced by governments (in alphabetical order):

G7 COUNTRIES:

FRANCE - 360 billion euros (295 billion pounds)

- BANK CAPITAL: Up to 40 billion euros available to help recapitalise banks. State to lend 10.5 billion euros to France's top six banks by year-end. Banks to pay interest rate of more than 400 basis points over risk-free rate. Government has said it may take direct stakes if the banks in question do not begin lending to companies.

- GUARANTEE INTERBANK BORROWING: Up to 320 billion euros to be made available to guarantee bank lending. The fund will guarantee bank paper issued before Dec 31, 2009, and lasting up to five years.

- BANK DEPOSITS: Guaranteed up to 70,000 euros.

GERMANY - 515 billion euros  Continued...

 
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