Britain re-capitalises banks, warns on bonuses

British authorities on Monday warned banks to review their compensation structures after pledging up to £37 billion ($64 billion) to re-capitalise some of the country's largest banks.

The authorities will split the £37 billion between three banks: The Royal Bank of Scotland (RBS), Halifax Bank of Scotland (HBOS) and Lloyds TSB. The government has agreed to buy £9 billion in preference shares and underwrite offers of ordinary shares for the outstanding amount.

The Treasury said: "The overall a

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