UK Banks await clarification on £250 billion unsecured debt guarantee

“It looks likely that the guarantee will cover issuances of structured products up to three years but we don’t have any idea of the exact parameters of the deal at the moment,” says one banker at an issuer that is expected to partake in the rescue plan. “We don’t know who we can issue the products to, what size the trades can be, and above all we don’t know the fee that will be charged for the guarantee.”

If a bank does decide to issue structured products under the guarantee, the fee paid for

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