Not just Irish banks in trouble. UK Banks bankrupt

Sceala Philosopher Location: Kildare

We can not blame Brian Cowen or any other Irish politician, for every problem we now face. Irish banks are not the only banks in trouble. Many of the world's banks have failed and many more are technically bankrupt.
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UK Banks are in trouble again
News today that the UK banks may need another and new bail-out. A think tank says that British banks may need another state bailout next year and their borrowing requirements could hit £25 billion sterling a month.
The independent New Economics Foundation (NEF) think-tank said it had examined Bank of England data and concluded that many UK banks appeared to face a funding cliff.
Royal Bank of Scotland and Lloyds had to be part-nationalised as they ran up huge losses during the credit crisis, and others such as Barclays and HSBC have benefited from cheap credit provided by the central bank.
UK banks have a January 2012 deadline to repay £185 billion they borrowed from the Bank of England against £287 billion of illiquid assets, mostly residential mortgage backed securities, under the BoE's Special Liquidity Scheme.
They also face further pressure from new banking industry rules, due to be phased in by January 2019, which will require banks to hold more capital, and today Switzerland laid out tough new requirements for Credit Suisse and UBS.

An analyst in London said the likelihood of state aid being extended for the banks next year could not be excluded. 'There is wholesale funding which the government guarantees at the moment, and that may have to continue,' the analyst said.

Credit rating agency Standard & Poor's said in August that several UK banks were overly reliant on wholesale funding that is government guaranteed or central bank funded.

List of bankrupt or acquired banks from 2008/2009
Northern Rock UK bankrupt or acquired bank
Bear Stearns, New York City
Catholic Building Society UK bankrupt or acquired bank
Countrywide Financial, Calabasas, California
Alliance & Leicester UK bankrupt or acquired bank
Roskilde Bank DK
Fannie Mae and Freddie Mac US
Derbyshire Building Society UK bankrupt or acquired bank
Cheshire Building Society UK bankrupt or acquired bank
Merrill Lynch, US
American International Group, US
Lehman Brothers, US
HBOS UK bankrupt or acquired bank
Washington Mutual, Seattle, Washington US
Bradford & Bingley UK bankrupt or acquired bank
Fortis NL BL FR
Dexia The Belgian, French and Luxembourg governments
Wachovia, Charlotte, North Carolina US
Landsbanki Iceland
Glitnir Iceland
Kaupthing Bank Iceland
BankWest AUS
Sovereign Bank, Wyomissing, Pennsylvania US
Barnsley Building Society UK bankrupt or acquired bank
National City Bank, Cleveland, Ohio US
Commerce Bancorp, Cherry Hill, New Jersey US
Scarborough Building Society UK bankrupt or acquired bank
IndyMac Federal Bank US
Anglo Irish Bank IRL
BTA Bank Kazakhstan
Alliance Bank Kazakhstan
Bank of Antigua
Straumur Investment Bank Iceland
Dunfermline Building Society UK bankrupt or acquired bank
Caja de Ahorros Castilla La Mancha ESP
Philippine American Life and General Insurance Company
Chesham Building Society UK bankrupt or acquired bank
CajaSur ESP

Banks are continuing to fail all over the world in 2010.

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Not just Irish banks in trouble. UK Banks bankrupt