U.K. Faced ?Bank Runs, Panic, Riots in UK cities' as RBS and HBOS Neared Collapse. The crisis last year Oct 7, 08 was the worst Britain had faced in peacetime, Darling told. RBS and HBOS had more than 35 million business and individual customers with 475 billion pounds of deposits, 22 % of the U.K. total, held at about 3,250 branches. If RBS hadn?t been propped up as it was, in practice it would have been nationalized the following week?If RBS, HBOS, Lloyds had gone down, that would have had huge contagious effects throughout the rest of the world.?Trust in the banking system would have completely collapsed? and would have generated civil unrest RBS, HBOS and Lloyds TSB Group Plc accepted a 37 billion-pound government bailout and a further 200 billion pounds was made available by the government to improve liquidity, boost capital and absorb writedowns. The government also pledged to insure 585 billion pounds of toxic assets.British banks have only recognized 40 percent of a likely $604 billion in writedowns
