Bank of England chief calls for RBS to be split

03/6/2013 | Wall Street Journal, The

Royal Bank of Scotland Group should be split into a healthy bank and another entity in which bad loans are concentrated, recommended outgoing Bank of England chief Mervyn King. King also urged the government to use the government-managed bank to help boost the sagging U.K. economy by lending to businesses and consumers. "It's 4½ years on, and there is no immediate sign of [RBS] going back to the private sector. That means we have not been sufficiently decisive in either recapitalizing the bank or restructuring it," King told a parliamentary commission.

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