In the frame, on Tuesday, RBS — shares off 30 per cent mid-morning, touching a low of 99p. The aggressive mark-down follows news form the BBC’s Robert Peston that RBS is one of three banks to have approached the British government, each asking for a £15bn capital injection.
HM Treasury to stock market: “We stand ready to bail out banks”
Market to HM Treasury: “YOURS!”
By the by, Standard & Poor’s downgraded RBS by one notch to A- late on Monday, citing a generalised deterioration in credit risk and earnings potential.
Banks ask chancellor for capital – Peston’s Picks