An article from the BBC on Sunday says an announcement is expected early Monday of converting loans to a local mutual, Co-op Bank, into shares. Co-op Bank has shortfall in capital to be filled.
- Co-op banks faces big losses on commercial property loans
- Its debt has been downgraded to junk by the ratings agency Moody’s
More details at Co-op Bank to fill £1.5bn hole
Thanks to manderley3 in the comments for the article.
