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Bank claims: UK taxpayers could pay out more to RBS

UK taxpayers could be forced to help bail out Royal Bank of Scotland (RBS) again in the future, it has been claimed.

The Asset Protection Agency, has revealed that the Treasury may have to give more money to the beleaguered firm in as part of an asset protection scheme.

The programme ensures the government will cover £282 million of RBS loans over an initial loss of £60 million which will be covered by RBS.

Officials from the agency claim that losses could exceed that figure over the next five years, resulting in a temporary government bail-out.

"There is a reasonable chance that Treasury will temporarily have to pay out a relatively small amount in 2015, which will subsequently be recovered in full, including accrued interest, leading to HMT experiencing zero losses," the agency said.

RBS has already received a large amount of government funding following its £45.5 billion bailout in 2008 and 2009.

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-800004291-ADNFCR

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