Stock Market News
RBS completes ring-fencing of retail, investment arms
Royal Bank of Scotland (RBS) on Monday said the ring-fencing of its retail banking operations had been implemented.
Under the changes RBS will be renamed NatWest Markets and Adam & Company PLC becomes The Royal Bank of Scotland PLC.
The company added that it planned to start a second ring fencing scheme in the Court of Session in Scotland to transfer certain customer derivatives from NatWest Bank to NatWest Markets.
If approved, the scheme is expected to be implemented in August 2018, RBS said.
In July 2018, RBS Group also plans to restructure the NatWest Markets capital structure via a court approved capital reduction.
As part of this restructure, the shares in NatWest Holdings Limited, which owns the ring-fenced sub-group, will be distributed to the group. This will separate the ring-fenced sub-group from the non-ring-fenced entities, as required by the ring-fencing legislation, the company said.
Under the changes RBS will be renamed NatWest Markets and Adam & Company PLC becomes The Royal Bank of Scotland PLC.
The company added that it planned to start a second ring fencing scheme in the Court of Session in Scotland to transfer certain customer derivatives from NatWest Bank to NatWest Markets.
If approved, the scheme is expected to be implemented in August 2018, RBS said.
In July 2018, RBS Group also plans to restructure the NatWest Markets capital structure via a court approved capital reduction.
As part of this restructure, the shares in NatWest Holdings Limited, which owns the ring-fenced sub-group, will be distributed to the group. This will separate the ring-fenced sub-group from the non-ring-fenced entities, as required by the ring-fencing legislation, the company said.
Related share prices |
---|
Royal Bank of Scotland Group (RBS) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price