RBS to cut US CLOs, agency RMBS threatened

RBS for GC web
By Matthew Scully
28 May 2014

Cuts to Royal Bank of Scotland’s US non-agency mortgage business may extend to its collateralised loan obligation syndicate and distressed debt businesses, and may also lead to a “rationalisation” of its agency RMBS trading desks, GlobalCapital understands.

The bank is "repositioning" its agency RMBS business, a person briefed on the matter told GlobalCapital. “It will likely diminish, rationalise in some way, or bring down in size those assets”.

The US CLO business and the distressed debt group — known as the special situations group — will also ...

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