U.K. Treasury imposes Varied Rates on Banks

The U.K. Treasury plans to charge British banks at different rates under a loan guarantee plan to be announced as early as March 15.

The plan is intended to make £20 billion ($31 billion) available to small businesses and Chancellor George Osborne had wanted to set a single rate for the country’s five biggest banks. Instead, lenders will be charged according to their balance sheet, Telegraph said citing an unidentified government source.

HSBC Holdings Plc (HSBA) and Barclays Bank Plc (BARC) spokespeople declined to comment.