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The Royal Bank of Scotland Group plc Message Board

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  • rexobXIP rexobXIP Aug 27, 2009 10:42 PM Flag


    These are not market trades. I have had bids in that were between the spread and I can't ctch these shares. I talked to a Bank of America broker and he says these are basically arranged trades between a buyer and a seller, and while they show up on the tape, they are not indicative of market trades -- although they can influence them.

    There is talk of keeping these off the ticker for that very reason.

    Interesting tidbit from RBS -- they say they want to keep payingn and are negotiating with the EU regulators. A little plus is that apparently a bunch of these are held by insurance cos. and this could really negatively impact their balance sheets.

    They acknowledge these were sold as safe income yielding investments, and insist it is in their interest to keep paying as when the government gets out they will want access to private capital.

    Keeping my fingers crossed.

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    • Did you talk to investor relations? I got a similar reply from them about being in negotiations with the EU and their restructuring plan. I have pasted it below - it does not shed a ton of light on the situation but take a look and let me know what you think:

      Thank you for your email.

      The HMT is currently in discussions with the EU, looking for approval on the APS. Separately we have also provided information to the EU on our restructuring plan. We have not received any request from the EU or any other regulator to defer on any hybrid (aka subordinated) capital.

      We anticipate the accession agreement of the APS to be determined between the HMT and the EU this autumn. This will be followed by a General Meeting of our shareholders, where they will vote on our proposed participation in the scheme.

      I would also note that we have announced on the 20th of August regarding the payment of coupons on non-cumulative preference shares. Our approach regarding the payment of dividends on our preferred shares has not changed and they are paid in accordance with the terms outlined in the prospectus for the issue. Please see the announcement here –

      I would refer you to our results presentation and transcript of the analyst presentation where the EU and APS are discussed in further detail. These can be found at the following link:

      If you require any further information please let us know.

      Kind regards,

      Investor Relations
      The Royal Bank of Scotland Group
      P Please consider the environment before printing this email

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