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Banks: Finance

Volume 503: debated on Thursday 7 January 2010

To ask the Chancellor of the Exchequer what loan loss rate his Department assumes in respect of the £280 billion portfolio of debts it is underwriting. (307150)

RBS will bear 100 per cent. of the first £60 billion of losses on the £282 billion of assets that it has included in the Asset Protection Scheme (APS). As set out in the details of the Asset Protection Scheme, published on 7 December 2009, this is in line with HM Treasury's current view of the most likely level of losses on the APS assets.