RBS to exit Asset Protection Scheme

STATE-BACKED lender Royal Bank of Scotland confirmed it would exit the government’s Asset Protection Scheme this week, after paying required premiums and reducing assets by 63 per cent to around £105 billion.
By The Newsroom
Published 17th Oct 2012, 09:25 BST

RBS has paid around £2.5 billion to participate in the specially designed insurance scheme that capped potential losses on almost £300 billion of its most toxic assets after its bailout in 2008.

The bank also paid around £1.5 billion to the Treasury for liquidity support.

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The Financial Services Authority has approved RBS’s decision to withdraw from the scheme on Thursday but the bank will continue to discuss its capital plans and preparations to meet Basel III demands with the regulator.