Casino Banking-London
The vast bulk of RBS losses are attributable to the, “Investment Banking Division”. A division registered, managed and staffed entirely in London. The, “bank of last resort” for the, “Casino Banking” losses of RBS is therefore the, “Bank of England.
The RBS division of the bank the headquarters of which is based in Scotland is, in effect a medium sized high street bank which is and always has been has been always profitable. In consequence it is a bit of a misnomer since just about all of the, “movers & shakers” are based at the London Headquarters of the Bank. Only the business licence plate is registered and posted in Edinburgh, nothing else of note. It follows therefore that any threat to transfer the headquarters of the bank to England is simply an exercise in bluster, transferring a 6″ metal plate from a door in Scotland to something similar in London.
Staff employed in Edinburgh supporting the profitable high street branch division would be unaffected by any change.
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