RBS, the loan arranger
It's a week that Stephen Hester will be happy to put behind him.
The chief executive of the Royal Bank of Scotland has announced 3,700 job losses from branches and the need for at least £25bn more in government capital injection, taking the taxpayers' share of economic value (though not voting power) up to 84%.
He was told by the European competition commissioner Neelie Kroes to sell large parts of RBS, which he points out this morning cost the UK taxpayer £9bn this week alone in the reduced stock market valuation of our stake.
And now there's a third quarter pre-tax loss of more than £2.1bn, or (as RBS prefers to emphasise) an operating loss of £1.5bn, sharply reduced from the second quarter. Impairments, or losses on loans, seem to be at a plateau, but it's a high one, at £3.3bn for the third quarter.
No huge surprises to any of this. But there's an interesting new message from the RBS chief executive, as he admits the bank is struggling to hit the government's demands for ensuring lending is available to homebuyers and businesses.
He's now pointing out that companies - his customers - are choosing to repair their balance sheets, and that means reducing the level of debt they're carrying. And he points out that's the way it should be.
The USA is out of recession, while companies are paying off debt faster than they're doing in Britain and savings are up. So pushing more credit into the economy may not be the way back to growth, and probably isn't good for us anyway.
There's a new figure from the bank that helps explain what's going on, suggesting the problem in reaching the lending targets is not the lack of willingness from banks, but the lack of demand from customers.
RBS has identified £27bn of credit available to its small, medium and "mid-corporate" customers through arranged overdrafts, which is available, easily accessed, but not being drawn down.
This looks like a big hint to Chancellor Alistair Darling, RBS's majority shareholder: time to re-think those lending targets.