Blueprint
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For
January 3, 2017
Commission
File Number: 001-10306
The
Royal Bank of Scotland Group plc
RBS,
Gogarburn, PO Box 1000
Edinburgh
EH12 1HQ
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F X Form 40-F
___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):_________
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):_________
Indicate by check
mark whether the registrant by furnishing the information contained
in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.
Yes ___
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________
The following information was issued as Company announcements
in London, England and is furnished pursuant to General Instruction
B to the General Instructions to Form
6-K:
Ring-fencing
Legal Entity Transfers
Further
to the announcements of 30 September 2016 relating to its future
ring-fenced legal entity structure, The Royal Bank of Scotland
Group plc (RBS) is today
providing further details of the intra-group legal entity transfers
which took place on 1 January 2017.
These
transfers, described and illustrated in the group corporate
structure chart at the link below, are the first of a number of
planned moves and form part of RBS's ongoing restructuring plans to
ensure it complies with the legal and regulatory requirements to
ring-fence its retail and small and medium-sized enterprises
banking services from its investment banking operations by 1
January 2019.
RBS's
ring-fencing planning remains subject to regulatory, Board and
other approvals as well as employee information and consultation
procedures.
NatWest
Holdings Limited
In line
with its announcement of 30 September 2016, on 1 January 2017, The
Royal Bank of Scotland Group plc introduced an intermediate holding
company named NatWest Holdings Limited (NatWest Holdings), as a direct
subsidiary of The Royal Bank of Scotland plc (Royal Bank). However, this is an interim
structure as NatWest Holdings is expected to become a direct
subsidiary of The Royal Bank of Scotland Group plc in
mid-2018.
On 1
January 2017, National Westminster Bank Plc (NatWest) and Adam & Company Group
PLC transferred from the Royal Bank and Ulster Bank (Ireland)
Holdings Unlimited Company transferred from Ulster Bank Limited, to
become direct subsidiaries of NatWest Holdings.
RBS
International
The RBS
International business will sit outside RBS' ring-fenced sub-group
of companies. RBS has taken an important step to implementing this
new structure by transferring The Royal Bank of Scotland
International (Holdings) Limited (RBSI Holdings) from RBSG International
Holdings Limited and National Westminster International Holdings BV
to become a direct subsidiary of The Royal Bank of Scotland Group
plc on 1 January 2017.
RBS
International's operating companies will remain as subsidiaries of
RBSI Holdings.
Additional
Intra-Group Transfers
In
support of its previously communicated strategy of including
permitted business within the ring-fenced sub-group of companies,
RBS has also transferred its Lombard and RBS Invoice Finance
businesses into the future ring-fenced sub-group structure. Lombard
North Central PLC and RBS Invoice Finance (Holdings) Limited
transferred from Royal Bank to NatWest on 1 January
2017.
Finally, RBS has
completed a number of other intra-group legal entity transfers, all
supporting our target legal entity structure. Specifically, the
following companies transferred to NatWest on 1 January 2017: The
Royal Bank of Scotland Group Independent Financial Services Limited
and RBSG Collective Investments Holdings Limited from The Royal
Bank of Scotland Group plc and KUC Properties Limited from KUC
Holdings Limited. NatWest Bank Nominees (Jersey) Limited also
transferred to The Royal Bank of Scotland International (Holdings)
Limited from NatWest.
The
Royal Bank of Scotland Group plc will continue to be the primary
issuing entity for funding and capital raising activities. RBS
continues to work through its ring-fencing plans and any
implications for debt issued by RBS's entities will be announced in
due course.
For
further information contact:
RBS
Investor Relations
Alexander
Holcroft
Head of
Equity Investor Relations
+44 20
7672 1982
Matthew
Richardson
Head of
Fixed Income Investor Relations
+44 20
7678 1800
RBS
Media Relations
+44 131
523 4205
Forward-looking
statements
This
announcement contains forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act of
1995, including those related to RBS and its subsidiaries'
regulatory capital position and requirements, financial position,
future pension funding requirements, on-going litigation and
regulatory investigations, profitability, impairment losses and
credit exposures under certain specified scenarios. In addition,
forward-looking statements may include, without limitation,
statements typically containing words such as "intends", "expects",
"anticipates", "targets", "plans", "believes", "risk", "estimates"
and words of similar import. These statements concern or may affect
future matters, such as RBS's future economic results, business
plans and current strategies. Forward-looking statements are
subject to a number of risks and uncertainties that might cause
actual results and performance to differ materially from any
expected future results or performance expressed or implied by the
forward-looking statements. Factors that could cause or contribute
to differences in current expectations include, but are not limited
to, legislative, fiscal and regulatory developments, accounting
standards, competitive conditions, technological developments,
exchange rate fluctuations and general economic conditions. These
and other factors, risks and uncertainties that may impact any
forward-looking statement or RBS's actual results are discussed in
RBS's UK Annual Report and Accounts and materials filed with, or
furnished to, the US Securities and Exchange Commission, including,
but not limited to, RBS's Reports on Form 6-K and most recent
Annual Report on Form 20-F. The forward-looking statements
contained in this announcement speak only as of the date of this
announcement and RBS does not assume or undertake any obligation or
responsibility to update any of the forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
Legal
Entity Identifier: 2138005O9XJIJN4JPN90
http://www.rns-pdf.londonstockexchange.com/rns/2293T_-2017-1-3.pdf
Date: 3
January 2017
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THE
ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
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By: /s/
Jan Cargill
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Name:
Jan Cargill
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Title:
Deputy Secretary
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