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| Version 0 | Version 1 |
|---|---|
| Barclays in Treasury debt talks | Barclays in Treasury debt talks |
| (10 minutes later) | |
| Barclays has said it is in talks with the Treasury over its "potential" participation in the government's Asset Protection Scheme. | Barclays has said it is in talks with the Treasury over its "potential" participation in the government's Asset Protection Scheme. |
| The bank said any decision on whether it would participate, "and to what extent", would be based on "the economic merits to shareholders". | The bank said any decision on whether it would participate, "and to what extent", would be based on "the economic merits to shareholders". |
| The Asset Protection Scheme uses government money to insure banks' riskiest assets against further losses. | The Asset Protection Scheme uses government money to insure banks' riskiest assets against further losses. |
| Lloyds Banking Group and RBS are already signed up to the scheme. | Lloyds Banking Group and RBS are already signed up to the scheme. |
| In exchange for gaining the insurance, they pay the government a fee. | In exchange for gaining the insurance, they pay the government a fee. |
| The government currently insures £325bn of toxic assets at RBS, and £260bn at Lloyds. | |
| Chancellor Alistair Darling hopes the Asset Protection Scheme will help restore confidence in the banking sector. |