How RBS is implementing ring-fencing

How RBS is implementing ring-fencing

Implementing ring-fencing requires changes to the structure of the RBS Group.  We will offer a broad range of products and services from within the ring-fence.

To help facilitate the separation of essential banking services from investment banking services, we are using a legal scheme called a Ring-Fencing Transfer Scheme (RFTS). We are planning to complete two RFTSs during the course of 2018.

The first RFTS (RFTS 1) will transfer some of our customers from The Royal Bank of Scotland plc (RBS plc) to Adam & Company PLC. In addition, certain advisory products and a covered bond programme will be transferred from RBS plc to National Westminster Bank Plc (NatWest Bank Plc). When this transfer occurs, expected during Q2 2018, we will also rename the legal entity Adam & Company plc to The Royal Bank of Scotland plc.

In parallel, the current RBS plc will be renamed NatWest Markets Plc and will be one of the entities through which we will deliver markets products that must sit outside of the ring-fence.

We will complete a further RFTS (RFTS 2), later in 2018 which will transfer certain markets products from NatWest Bank Plc to NatWest Markets Plc.

What this means for you

Should you be affected by one or both RFTSs, we will contact you in due course with further information.

This means accounts will continue to be with a bank known as The Royal Bank of Scotland plc, and bank account details will remain unchanged. Online banking, banking cards and relationship managers will remain the same.

The Adam & Company brand and activities will be unchanged.

If you’re a NatWest customer (1) nothing will change in terms of your day to day banking.


(1) Any NatWest customers who are identified as Relevant Financial Institutions (RFIs) will be contacted about any ring-fencing impacts.

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