RBS officially inks APS deal

27th Nov 2009 07:05

Part nationalised bank Royal Bank of Scotland has now officially signed up for the government's asset protection scheme (APS).The bank said in a statement that the agreement was signed on Thursday, 26 November, on the terms summarised in the announcement published on 3 November.The agreement and, therefore, Royal Bank of Scotland's (RBS) participation in the APS, is subject to a number of conditions, including approval by RBS's shareholders in general meeting and final approval by the European Commission. In addition to the APS agreement, RBS inked the documents covering its share issue to the Treasury and its agreement with the European Commission regarding asset disposals.RBS shareholders can expect to receive full details of the agreements prior to a general meeting to be held on 15 December.