RBS Capital Resolution

HM Treasury written question – answered on 16th October 2014.

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Photo of Steve Rotheram Steve Rotheram Labour, Liverpool, Walton

To ask Mr Chancellor of the Exchequer, what the total amount is of commercial loan values that have been transferred to RBS Capital Resolution since its inception.

Photo of Steve Rotheram Steve Rotheram Labour, Liverpool, Walton

To ask Mr Chancellor of the Exchequer, what steps he has taken to ensure that businesses in the RBS Capital Resolution bank are restored to the good bank within RBS.

Photo of Steve Rotheram Steve Rotheram Labour, Liverpool, Walton

To ask Mr Chancellor of the Exchequer, how many businesses with commercial loans transferred to RBS Capital Resolution have been taken out of that division of the bank and restored to the good bank.

Photo of Andrea Leadsom Andrea Leadsom The Economic Secretary to the Treasury

In November 2013, RBS established RBS Capital Resolution (RCR), an internal bad bank, in order to separate and wind down RBS’s poorly-performing and high-risk assets. RBS transferred £38 billion of ‘high-risk’ legacy assets to RCR. RCR is managed separately from the main bank, and the aim is to wind down these assets in full within three years. As a result, there is not any intention to transfer additional assets in or out of RCR.

Further details on the operations, objectives and composition of loans in RCR can be found in the Government’s Bad Bank Review available at:

https://www.gov.uk/government/publications/rbs-and-the-case-for-a-bad-bank-the-governments-review

RBS also produces detailed reporting updates on the progress of RCR alongside its financial results, which are available on the RBS website.

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