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Royal Bank of Scotland Withdraws from Asset Protection Scheme

The Asset Protection Scheme was set up in 2009 and would have meant that taxpayers had to absorb any losses.

Since then, RBS has been able to get rid of half of the £280bn of loans and investments it put into the scheme.

The bank, 82% owned by UK taxpayers, paid £2.5bn to use the scheme.

BBC business editor Robert Peston said: “Royal Bank of Scotland has moved a step nearer financial rehabilitation and eventual privatisation.”

However, Treasury Minister Sajid Javid said the government was not planning to sell its stake in the near future.

“We’ve said all along that it’s our intention eventually to return it fully to the private sector and today’s news is a significant step towards that,” Mr Javid told BBC News.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza