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Bank bosses forced out as historic £40bn rescue deal unveiled

Royal Bank of Scotland was effectively nationalised today and its chief executive and chairman are to stand down as a dramatic rescue of British banking got under way after the Government unveiled a £37 billion bail-out for three of Britain's biggest banks.

Royal Bank of Scotland was effectively nationalised today and its chief executive and chairman are to stand down as a dramatic rescue of British banking got under way after the Government unveiled a £37 billion bail-out for three of Britain's biggest banks.