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<p>As detailed by the Chancellor in his speech to the Mansion House, the Government
has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).</p><p>
</p><p> </p><p> </p><p>The Government’s shareholding in RBS is managed at arm’s length
from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for
the design and execution of any future sale.</p><p> </p><p> </p><p> </p><p>Provision
for the potential impact of regulatory fines or penalties is regularly published by
RBS as part of the bank’s accounts process. This information is available to any prospective
investor.</p><p> </p>
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