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Treasury says it will publish key RBS agreement after GRG claims

Mar 04, 2019 - City A.M.

THE TREASURY has yielded to pressure from MPs to publish a key agreement it signed with RBS following allegations it had significant influence over the bank's disgraced restructuring unit (GRG).

Following parliamentary questions lodged by the MP Martin Whitfield, the Treasury has agreed to publish the accession agreement it signed with RBS when the bank entered into the government's Asset Protection Scheme (APS), which insured RBS's toxic loans at the height of the 2008 financial crisis.

The government has said the APS, set up by an executive branch of the Treasury called the Asset Protection Agency (APA), was designed to maintain financial stability and protect taxpayers' m...