by Calculated Risk on 4/22/2008 09:29:00 AM

From the WSJ: RBS Takes Further Write-Downs, Plans $23.78 Billion Rights Issue

Royal Bank of Scotland PLC Tuesday said it took a further £5.9 billion in pretax write-downs and will take steps to shore up its balance sheet, asking shareholders to approve a £12 billion ($23.78 billion) rights issue in addition to seeking disposals of noncore assets.

The confessional is very busy.

Update: Here is more info on the RBS Rights Issue. The table under Credit Market Exposures lists the components of their write down. This includes more Alt-A than subprime - and £201 million in commercial loans.