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October 23, 2012

RBS, U.K. Wrestle Over Fate of Citizens

“LONDON—Royal Bank of Scotland Group PLC is facing pressure from the British government to sell a valuable operation in the U.S. that has nearly 1,500 branches in 13 states.

U.K. taxpayers own 81% of RBS as a result of the £45.5 billion ($72.8 billion) bailout of the bank in 2008. Government officials and the country’s main financial regulator, the Financial Services Authority, recently have pushed RBS management to sell the U.S. operation as part of an effort to slim down RBS, refocus it on its home market and thicken its capital cushion, said people familiar with the talks.”

Read full Wall Street Journal article here

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