Paper Loss On Bank Bailouts Stands at Pounds 950 a Household

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EVERY household in the country is sitting on paper losses of almost pounds 1,000 so far on bailouts for Royal Bank of Scotland and Lloyds Banking Group, it was disclosed yesterday.

UK Financial Investments (UKFI), which manages public stakes in the two banks, said every household had more than pounds 3,000 invested in Lloyds and RBS shares. But the pounds 34.5bn currently invested had shrunk to pounds 23.6bn as of June 30 - a 32% paper loss of pounds 10.9bn, equivalent to about pounds 950 per household.

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Paper Loss On Bank Bailouts Stands at Pounds 950 a Household

The taxpayer is still deeply in the red despite a relative recovery in bank stocks ...

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