Ring-fencing

gettyimages-488571074-940.png

What is ring-fencing?

The UK Government passed new ring-fencing legislation which requires certain financial institutions to separate essential banking services from investment banking services by 1 January 2019. This is to strengthen the financial system following the financial crisis that began in 2008. 

The RBS Group is within scope of this legislation so we’re undertaking a significant reorganisation of our current legal entity structure and business model.

What does this mean for our customers?

There is no immediate change for our customers. You can continue to use our banking services as normal and you don’t need to do anything.

We’ll stay in touch and contact you in the coming months with any further developments, giving you plenty of notice of any changes moving forward. 

  • What does this mean for the RBS Group?

    We announced in September 2016 how the structure of the RBS group is expected to change, between now and 1 January 2019, to comply with the UK’s ring-fencing requirements.

    To explain how our proposed re-structured organisation will look, please see our graphic below.

    PG2_Standalone.jpg
  • Where can I find the latest information about ring-fencing?

    We’ll keep updating this site with press releases and other useful information about our ring-fencing developments:


    Other announcements

    10.11.16
    The Financial Conduct Authority has launched their own page, explaining more about ring-fencing.

  • Frequently asked questions

    Q: What is ring-fencing?

    A: Ring-fencing is designed to protect the UK economy from crises in the global financial system. The UK ring-fencing legislation requires the separation of essential banking services from investment banking services by 1 January 2019.

    Q: How will this affect customers?

    A: There is no immediate change for our customers. You can continue to use our banking services as normal and you don’t need to do anything. We’ll stay in touch and contact you with further developments, giving you plenty of notice of any changes moving forward.

    Q: Where can I read about the wider RBS changes?

    A: For more information, our recent announcements in September 2016 and again in January 2017 have more detail about ring-fencing and the legal entity changes.

    Q: When will this change take place?

    A: The ring-fencing changes need to be completed by 1 January 2019. Our final ring-fenced legal structure and the actions taken to achieve it remain subject to amongst other factors additional regulatory, Board, and other approvals, as well as employee information and consultation procedures. We will update customers on our progress in the coming months.

Our final ring-fenced legal structure and the actions taken to achieve it, remain subject to, amongst other factors, additional regulatory, Board and other approvals as well as employee information and consultation procedures. All such actions and their respective timings may be subject to change, or additional actions may be required, including as a result of external and internal factors including further regulatory, corporate or other developments.