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The Bank of Scotland plc (Scottish Gaelic: Banca na h-Alba) is a commercial and clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group.The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the United Kingdom . [2]
Bank £ 1.2 × 10 ^ 9 [37] October 13, 2008: Sovereign Bank, Wyomissing, Pennsylvania: Banco Santander: Bank $ 1.9 × 10 ^ 9 [38] October 13, 2008: Royal Bank of Scotland Group (up to 81.14% Bought) Government of the United Kingdom: Bank £ 2 × 10 ^ 10 [39] October 13, 2008: HBOS (up to 43.5% Bought) Government of the United Kingdom: Bank £ 1 ...
In April 2008, the Bank of England launched the Special Liquidity Scheme, allowing banks to swap mortgage-backed assets for Treasury bonds, so providing more trusted collateral for accessing market liquidity. The same month, Royal Bank of Scotland launched a £12 billion rights issue to supplement its equity capital.
A raft of High Street bank branches have been closed in recent years, as more people have shifted to accessing banking services online. Lloyds to cut 1,600 jobs in major branch overhaul
On Monday, 19 January 2009, a date previously known as Blue Monday, British banking shares collapsed in a rout of selling after Royal Bank of Scotland (RBS) announced the biggest corporate losses in British history. The shares fell over 67% in a single day. Shares in all other British banks suffered heavy losses.
The 2012 RBS computer system problems were technical issues affecting computers run by the Royal Bank of Scotland Group (now NatWest Group), including National Westminster Bank, The Royal Bank of Scotland and Ulster Bank, which began on 19 June 2012. In 2014, RBS was fined £42m over the incident. [1]
Panic of 1819, a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle; Panic of 1825, a pervasive British recession in which many banks failed, nearly including the Bank of England; Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression; Panic of 1847, United Kingdom
Enjoy a classic game of Hearts and watch out for the Queen of Spades!