FACTBOX - Financial rescue plans by G7 and other countries
(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...
Do banks do "God's work"?
The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work". Blog

UK
US