RBS is in the process of restructuring it’s legal entity structure, to ensure it complies with the legal and regulatory requirements. RBS is required to ring-fence its retail and SME banking services from its investment banking operations by 1 January 2019. Below illustrates our future funding structure under these ring-fencing requirements, and an update on planned legal entity transfers.
Illustrative future funding structure
(1) Based on RBS future business profile, excludes RBS Capital Resolution
RBS interim Legal Entity Transfers as at 1st January 2017
As part of the ongoing restructuring of RBS’s legal entity structure, a number of legal entities were transferred on the 1st January. These transfers are the first of a number of planned moves. The full announcement can be found here.
Not all of The Royal Bank of Scotland Group legal entities have been included. For the full structure refer to the Annual Report. Financial statements of most of our major subsidiaries are available in our Results Centre.
RBS’s ongoing ring-fencing planning remains subject to regulatory, Board and other approvals as well as employee information and consultation procedures.