Admitting the government overpaid when rescuing Lloyds (LYG) and RBS in 2008, the BOE warns the...

|About: Lloyds Banking Group plc (LYG)|By:, SA News Editor

Admitting the government overpaid when rescuing Lloyds (LYG) and RBS in 2008, the BOE warns the two banks still need to raise a substantial amount of capital by March. The banks are trying to sell assets or cut back investment banking operations as opposed to requesting more government funds. At this point U.K taxpayers are sitting on losses on the government investment as opposed to the profits booked by the U.S. Treasury.