We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedChange Management

RBS no longer in debt to US Federal Reserve


Debt has been repaid in full with interest

Article comments

Royal Bank of Scotland said it had repaid in full its debt with the United States Federal Reserve.

"Like most global banks, we utilised central bank liquidity schemes during the crisis in financial markets. Since then, we have significantly reduced our borrowing from central banks and all money borrowed from the Fed has now been repaid in full with interest," the bank said.

This follows information that the Federal reserve lent more than $1 trillion (£640 billion) to British banks during the crisis which started in December 2007, a figure which represented more than a third of the funds lent by the US authorities.

RBS borrowed a total of $446 billion (£285 million) during the financial crisis, one of many banks to have borrowed money from the US authorities including Barclays who borrowed $863 billion (£552 billion).

The information was released into the public domain because of the Dodd-Frank Wall Street Reform Act which forced the Federal Reserve to disclose details.

Photo credit: Reuters, Luke MacGregor

Share:

Comments

RBS no longer in debt to US Federal Reserve
Change Management

How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale valuemore ..


European IPO markets reaches pre-recession levels

At least 15 IPOs with over €250m proceeds are planned before the end of the summer, PwC saysmore ..

BG Group relocates trading HQ to Singapore

Oil and gas company says it wants to get closer to “high growth” LNG marketsmore ..

Chicago Sun-Times first major US paper to accept bitcoins

Backed by Coinbase, the move is part of a digital-first strategymore ..

Will the new tax breaks help Britain’s VFX and film industries?

Alex Hope, MD of Double Negative, explains what the autumn statement really means for UK VFXmore ..

How to improve your annual report

Regulators recognise the value of storytellingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *