FACTBOX-Government bails out banks, executives quit

LONDON (Reuters) - The British government on Monday announced plans to give three leading banks a 37 billion pound cash injection aimed at strengthening their capital reserves in the face of the credit crunch.

The government will take equity stakes in each of the banks -- Royal Bank of Scotland, Lloyds TSB, and HBOS -- while Barclays has said it will raise 6.5 billion pounds from investors without recourse to public funds.

Here are some key facts about the banks' recapitalisation plans:

ROYAL BANK OF SCOTLAND

- To raise a total of 20 billion pounds through a 15 billion pound issue of ordinary shares, and the sale of 5 billion pounds in preference shares to the government. The Government will underwrite the issue of ordinary shares.

- RBS Chief Executive Sir Fred Goodwin and Chairman Sir Tom McKillop to step down.

- Government to become RBS's majority owner with a 57 percent stake assuming existing shareholders do not participate in the ordinary share issue.

- Dividends on ordinary shares cancelled until the preference shares are repaid.

LLOYDS TSB & HBOS  Continued...