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RBS cancels £8bn buffer deal with Government

 

Tuesday 17 December 2013 02:29 GMT
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Royal Bank of Scotland has terminated a “contingent capital” deal that would have seen the Government inject another £8bn into the bank if its core capital ratio fell below 5 per cent.

The facility, set up in 2009, acted as an additional debt buffer. The move means the taxpayer-controlled bank will no longer have to pay a £320m fee to the Treasury.

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