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Emergency loan for Dutch Fortis Bank

Tuesday 07 October 2008

Finance minister Wouter Bos has given Fortis Bank Nederland an emergency loan of maximum €34bn to pay off its short-term debts, reports Tuesday’s Financieele Dagblad.

The credit is needed because Fortis Bank Belgium ‘abruptly’ terminated liquidity support for the Dutch bank, the paper says.

All of the Dutch activities of financial services group Fortis were nationalised by the Dutch state on Friday evening.

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