Breaking News, World News and Taiwan News.

RBS reaches accord with UK gov't to leave emergency insurance program

LONDON -- Royal Bank of Scotland (RBS), which was rescued in Britain's biggest bank bailout, says it is getting out of an emergency insurance program which helped stabilize the company after it nearly collapsed.

RBS said Wednesday that it has agreed with the government that it will leave the Asset Protection Scheme, in which the bank paid 2.5 billion pounds (US$4 billion) to insure against losses on 282 billion pounds of bad loans and other risky assets.

Chief Executive Stephen Hester said the development was “a significant milestone” in the bank's recovery.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search