Royal Bank of Scotland Closes 'Bad Bank' Over GBP50 Billion Loss -FT

Royal Bank of Scotland shut a unit Thursday after collecting cumulative losses in excess of 50 billion pounds ($67 billion) from it, the Financial Times reports.

--RBS used the so-called "bad bank" to handle toxic assets after the financial crisis nine years ago, according to the Financial Times.

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November 30, 2017 09:11 ET (14:11 GMT)