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Osborne to stop short of RBS break-up
by Alex Steger on Oct 28, 2013 at 07:57
Chancellor George Osborne is to stop short of splitting the Royal Bank of Scotland (RBS) into ‘good' and 'bad' banks, according to reports.
Sky News reported that Osborne is instead set to recommend the creation of an internal ‘bad bank’ in a move which will avoid a shareholder vote.
The chancellor is to meet with senior Treasury officials later this week and set out a blueprint for the future of RBS, Sky reported.
The meeting follows a four month review by Rothschild and BlackRock into a possible break-up of the 82% taxpayer-owned bank.
The review’s key recommendations will focus internal surgery rather than a wholesale break-up of RBS, according to Sky.
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