Report into RBS collapse criticises management and regulator

Royal Bank of Scotland and Britain’s regulators were heavily criticised by the Financial Services Authority’s long awaited report into the near collapse of RBS in 2008 following its takeover of ABN Amro.

12th December, 2011

Royal Bank of Scotland Group and Britain’s regulators were heavily criticised by the Financial Services Authority’s long awaited report into the near collapse of RBS in 2008 following its takeover of ABN Amro Holding NV.

The bank relied too much on short-term wholesale funding, a weakness that was missed by Britain’s banking regulator, the bank regulators said in a report on its website. The watchdog listed seven reasons for the bank’s failure,...

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