Alistair Darling has warned banks there are strings attached to the £37 billion bailout of Royal Bank of Scotland (RBS), HBOS and Lloyds TSB.
He has also moved to calm taxpayers that the government will aim to make cash on its investment in the banks.
"This does not come cost-free," the chancellor of the exchequer told BBC1's Breakfast.
"Loans and investment have come at a price and there are strings attached. We have to look after the taxpayer.
"We are taking a substantial shareholding – we will get rewards and the taxpayer will get money back."
Mr Darling explained the government needed to stabilise and rebuild the banking system, and it is only when the banks were again strong that they can start lending to businesses and consumers.
He also explained RBS has been told bonuses to top executives will not be paid and the government will put people on banks' boards to protect taxpayers.
However, the chancellor said ministers would not be running banks and they would be run at arm's length.
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