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LON100:RBS, Jul 16, 09:53 UTC

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Winners of RBS state aid grants to be announced in February 2019

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Winners of RBS state aid grants to be announced in February 2019. LONDON (Reuters) - The winners of a series of grants worth a total of 775 million pounds and paid for by the Royal Bank of Scotland (RBS.L) will be announced in February 2019, the body set up to disperse the money said on Monday. Banking Competition Remedies Ltd said that after appointing its final executive director and other staff - a process that had prevented applications for the grants from opening - it was now operationally ready to implement the scheme. RBS is footing the bill following its 45.5 billion pound bailout during the financial crisis, seen as an unfair boost to the lender.

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Saturday, July 07


News

Ex-RBS Chief, a Symbol of British Banking Excess, Retires to Life in Scotland

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A decade ago Sir Fred Goodwin helmed the world’s biggest bank by assets, Royal Bank of Scotland Group. Today, he is no longer a banker. He is no longer knighted. And RBS has shrunk to a U.K.-focused bank ...

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Tuesday, June 26


News

Court Annuls Nomura, RBS Plea Against Mortgage Bond Case - June 26, 2018

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Per the settlement, the banks were ordered to pay $839 million for misrepresentation of documents in selling of mortgage-backed securities.Notably, both banks were accused by the Federal Housing Finance Agency’s (FHFA) of providing fraudulent details regarding mortgages sold to the government-backed mortgage financiers, Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corp. (FMCC).However, spokespersons of Nomura and RBS refrained from comments.BackgroundThe FHFA has accused Japan-based Nomura, sponsor of the above-mentioned securities, and Royal Bank of Scotland, the underwriter, of providing it with misleading details about securities worth $2 billion. Consequently in 2011, the FHFA had sued 18 financial organizations, including Wall Street majors, like Goldman Sachs GS and Bank of America BAC, for selling faulty mortgage-backed securities to Freddie Mac and Fannie Mae that caused investors severe losses. Moreover, it reduces the existing litigation burden of banks.Nomura carries a Zacks Rank #3 (Hold), while Royal Bank of Scotland holds a Zacks Rank of 5 (Strong Sell), at present.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Click to get this free report Bank of America Corporation (BAC) : Free Stock Analysis Report Royal Bank Scotland PLC (The) (RBS) : Free Stock Analysis Report Nomura Holdings Inc ADR (NMR) : Free Stock Analysis Report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Monday, June 25


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U.S. top court rejects Nomura and RBS appeal in mortgage-backed securities case

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U.S. top court rejects Nomura and RBS appeal in mortgage-backed securities case. WASHINGTON, June 25 (Reuters) - The U.S. Supreme Court declined on Monday to hear an appeal brought by Nomura Holdings (Other OTC: NRSCF - news) Inc and the Royal Bank of Scotland Group PLC seeking to overturn an order requiring them to pay $839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac. The FHFA has recovered more than $23 billion from the settlements, including $5.5 billion from RBS in a different lawsuit, $5.83 billion from Bank of America Corp and $4 billion from JPMorgan Chase (Swiss: JPM-USD.SW - news) & Co. Following a non-jury trial, U.S. District Judge Denise Cote ruled in 2015 against Nomura, which sponsored $2 billion of securities sold to Fannie and Freddie, and RBS, which underwrote four of the deals.

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RBS's Ewen Stevenson to become finance chief at HSBC

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LONDON, June 25 (Reuters) - Ewen Stevenson, currently chief financial officer of the Royal Bank of Scotland (LSE: RBS.L - news) , is to become finance director of Britain's HSBC, HSBC said on Monday. HSBC CEO John Flint described Stevenson as a "strategic thinker" and "accomplished expert" in his field. The appointment of 52-year-old Stevenson completes a new top team at HSBC, with CEO Flint and Chairman Mark Tucker also taking up their posts in the past year. Since joining RBS in 2014 and alongside RBS CEO and fellow New Zealander Ross McEwan, Stevenson has led efforts to turn around the bank's fortunes following its 45.5 billion pound ($60.4 billion) bailout in 2008. "For the past four years Ewen has worked tirelessly with me and my executive team to make RBS a much simpler, safer and more customer focused business and resolve a number of major legacy challenges," McEwan said at the time.

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Thursday, June 14


News

RBS' Ulster Bank says to refund 18,000 overcharged business customers

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RBS' Ulster Bank says to refund 18,000 overcharged business customers. DUBLIN, June 14 (Reuters) - Royal Bank of Scotland (LSE: RBS.L - news) 's Irish subsidiary Ulster Bank is to issue tens of millions of euros in refunds after overcharging business customers on interest payments, the bank said on Wednesday. The bank said 18,000 customers had been overcharged an average of "less than 2,000 euros", implying a total repayment of less than 36 million euros. "We sincerely apologise to our customers for this," Ulster Bank’s Managing Director of Commercial Banking, Eddie Cullen said in a statement.

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Wednesday, June 13


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UK watchdog to complete enforcement probe into RBS business unit in July

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UK watchdog to complete enforcement probe into RBS business unit in July. LONDON (Reuters) - Britain's markets watchdog said it expected to complete its enforcement investigation into alleged mistreatment by Royal Bank of Scotland <RBS.L> of small business customers by the end of next month. Lawmakers and small businesses have criticised the Financial Conduct Authority (FCA) for not bringing its investigation to a speedier conclusion and publishing the findings. "My expectation is that we will finish the investigative part before the end of July," FCA Chief Executive Andrew Bailey told parliament.

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News

RBS's NatWest Markets Government Bond Traders Are Said to Leave

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RBS's NatWest Markets Government Bond Traders Are Said to LeaveBy. Royal Bank of Scotland Group Plc’s head of European government bond trading and three of his senior colleagues left as the state-controlled lender restructures its securities arm, according to people with knowledge of the departures. James Konrad, who ran the European desk and Robbie Anderson along with other bond traders Ian Walker and Biagio Lapolla, left the NatWest Markets division over the past few weeks to pursue other opportunities, the people said, asking not to be identified because the matter is private. The departures at the fixed income desk come as RBS undergoes a “major restructuring” at NatWest Markets, which will have significant cost reductions by the end of next year, Chief Executive Officer Ross McEwan said in April.

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Tuesday, June 12


Social Chatter

Royal Bank of Scotland Group PLC (LON100:RBS) social chatter is higher than usual

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This is truth of Better Together economy: RBS: branches closing Carillion: Collapsed Mark & Spencer: branches closing Toys R Us: Collapsed Maplins: Collapsed Poundworld: Collapsed Meanwhile in Scotland.. Record exports, record investment from overseas. SNP is gvt is working!

Monday, June 11


News

NatWest trials online payments technology removing need to use cards

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A new way of paying for shopping online which removes the need to use debit or credit cards is being trialled by NatWest. The service removes the need for people to spend time inputting their long card numbers by providing them with the option to press a NatWest button at the end of the purchase process which will take them through to their mobile app. NatWest also said paying in this way using the mobile app means customers can immediately see their bank balance when they make a purchase, helping them to avoid nasty surprises and potential overdraft fees. Marion King, director of payments at NatWest, said: “Given how successful our initial trial has been we think directly linking payments from people’s bank accounts without the need for a card will play a much larger role in online shopping in years to come.”.

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