Allister Heath on RBS plans for internal bad bank

The Royal Bank of Scotland is to create an internal "bad bank", ring-fencing £38bn of bad assets, rather than follow troubled rivals who split into separate good and bad banks,

City AM editor Allister Heath said the move was a "weird triangulation" and the plans were more "about spin rather than substance".

The commentator sad RBS was not doing as badly as people thought, but it "still has huge amounts of problems".

And he said the chancellor was now unlikely to be able to privatise the bank before the 2015 general election.

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