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<p>We have not received information from UK Financial Investments (UKFI) relating
to the operation of RBS’s Global Restructuring Group (GRG) as a profit centre for
the bank.</p><p> </p><p> </p><p> </p><p>Similarly, we have not received information
from UKFI relating to the implications of the operations of GRG for small business
customers.</p><p> </p><p> </p><p> </p><p>As you are aware, the Financial Conduct Authority
(FCA) is currently investigating the operations of GRG in relation to its treatment
of business customers in financial difficulty. If the FCA identifies issues which
come within its remit, it will consider further regulatory measures.</p><p> </p>
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