Royal Bank of Scotland

HM Treasury written question – answered on 22nd April 2016.

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Photo of Phil Boswell Phil Boswell Scottish National Party, Coatbridge, Chryston and Bellshill

To ask Mr Chancellor of the Exchequer, what assessment his Department has made on the potential selling price of the Government's remaining stake in the Royal Bank of Scotland of the implications for the leveraged loans made by that bank to the oil and gas sector of the default rate of companies in that sector on high-yield loans.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The Government’s shareholding in RBS is managed at arm’s length from HM Treasury by UK Financial Investments (UKFI). However, UKFI’s role is to manage the investment, not the bank. RBS retains its own independent Board of Directors. Commercial decisions such as lending remain the responsibility of the bank’s independent management team and not the Government.

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