RBS Said to be near a deal to exit UK asset insurance plan (October 31, 2009)
It has been said that the Royal Bank of Scotland may be near a deal to leave the UK government asset plan earlier than expected.
The program is currently ensures their risk assets, as it does other banks, but the banks want to move away from this plan to have greater control over their asset risks and so that the government has less control over their banks.
70% of RBS is currently owned by the government, and we all know why, and is trying to get recover from its massive losses so far. But the bank may be forced to sell 300 branches and its insurance units if their plans are to get approval by the EU.
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