Barclays, Lloyds Banking Group and RBS, the UK banks, are facing £6bn in extra interest rate costs over the next four years as the Bank of England withdraws cheap emergency loans from the market. The cost of replacing this cheap funding, combined with new liquidity rules requiring banks to invest more reserves in risk-free government debt, will hit the UK institutions, according to Credit Suisse research. Banks worldwide face the same issue, as globally, they have issued $660bn in government guaranteed loans, says Dealogic. The bulk of this has been by US banks at $217bn and the UK with $139bn. http://ftalphaville.ft.com/blog/2009/12/03/86841/uk-bank-borrowing-costs-to-rise/ So, Dubai doesn´t matter anymore, hum ?