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RBS: a new era of certainty?

RBS: a new era of certainty?

Royal Bank of Scotland (RBS) chief executive Ross McEwan is right to call its settlement with the US Department of Justice “a milestone moment”. The state-backed banking group’s $4.9bn (£3.6bn) civil settlement with Federal authorities over historic mis-selling of residential mortgage-backed securities is much less than the market had expected. Crucially, it paves the way for the recommencement of dividends and the government sale of its 71 per cent stake.

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