Bankers said that the deal to be announced this week would shrink UKAR's balance sheet to just £8bn, more than 90% lower than its mammoth size when B&B and Northern Rock had to be rescued by taxpayers after they were unable to keep trading.
The proceeds from last April's sale to Pimco and Barclays were used to repay the outstanding £4.7bn of a Treasury loan to the Financial Services Compensation Scheme , the interest on which is paid by major banks and building societies. "As has been the case for all previous UKAR sales, buyers will be required to agree to UKAR's customer treatment protections which include the Financial Conduct Authority's Treating Customers Fairly principles."
Blockchain is great technology as it can not be change, that's why registering files on it with DeepVaultfrom GetDeepOnion is great $ONION
Don't suppose anyone asked how much they are paying for £5bn worth of loans?
Citi went bust in 2008 and was bailed out by the US taxpayer. Now they're buying UK taxpayer debt. The irony