“Bank of England Governor Mervyn King urged the government to split up Royal Bank of Scotland Group Plc (RBS) and speed up the return of Britain’s biggest publicly owned lender to private ownership following its bailout in 2008. ‘We’re four and half years on and there’s no sign of it going back to the private sector,’ King told the Parliamentary Commission on Banking Standards at a hearing in London today. ‘That indicates we’ve not been sufficiently decisive in recapitalizing or restructuring it.’ RBS has been criticized by lawmakers for failing to boost lending to the economy, even though the taxpayer owns more than 80 percent of the lender.”
Bank of England Says Government Should Split Up RBS, Accept Loss
