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RBS faces further accusations over interest rate swaps

Posted on May 28, 2012 by Cat Maclean  | 0 Comments

RBS faces accusers over interest rate swaps, writes the Herald

Writing in the Herald this morning, Simon Bain reports that Royal Bank of Scotland is facing a call to "come clean" at its annual meeting in Edinburgh tomorrow on the number of interest rate swap agreements (IRSAs) it has sold to small businesses across the UK.

Further pressure is likely to be heaped upon the beleagured bank at the AGM tomorrow when the organisation "Bully Banks" mounts a visual presence outside the bank's headquarters at Gogarburn to make its feeling known.

Meanwhile, the case of Grant Estates v RBS, which will consider interest rate swaps is due to commence a 4 day hearing in the Court of Session this morning which should provide an interesting backdrop to the AGM on Wednesday. We will be maintaining a watching brief on the case and will keep you posted.

Interest rate swaps - Grant Estates update
Lazing on a Sunny Afternoon

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