New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 27, 2014
11:17 EDTRBSRoyal Bank of Scotland announes 1.9B pound provision
Royal Bank of Scotland said its full year results on February 27 will reflect provisions for litigation and conduct related matters. RBS said its board has decided to provide 1.9B pounds covering various claims and conduct related matters affecting Group companies, primarily those related to mortgage-backed securities and securities related litigation, following recent third party litigation settlements and regulatory decisions. RBS said it will take an additional 465M pound provision for Payment Protection Insurance redress and related costs. It added that Q4 claims experience has continued at previous rates rather than declining as anticipated and claims are now expected to continue for a longer period. The cumulative provision is 3.1B pounds, of which 2.2B pounds had been utilized at December 31, 2013. The remaining provision of 900M pounds covers approximately twelve months of redress and administrative expenses. The bank noted a further 500M pounds provision for Interest Rate Hedging Products redress and administration costs. The increase in provision reflects both higher volumes and anticipated redress payments, recalibration of its methodology based on experience during Q4, and additional administration charges. RBS said. The cumulative provision, including expenses, was 1.25B pounds at December 31, 2013.
News For RBS From The Last 14 Days
Check below for free stories on RBS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 22, 2014
08:00 EDTRBSBoE to simulate cyber attacks on banks, FT reports
Subscribe for More Information
07:26 EDTRBSInformation Management Network to hold a conference
Subscribe for More Information
April 15, 2014
07:25 EDTRBSFederal Reserve Bank of Atlanta to hold a conference
Subscribe for More Information
April 9, 2014
13:19 EDTRBSEU regulators say RBS can cancel U.K.'s dividend share, Reuters says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use