Britain outlines break-up plans for RBS, LloydsBritain announced plans on Tuesday to break up state-rescued banks RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) and LBG LBG Local BEST (Board of European Students of Technology) Group LBG Locust Bean Gum LBG Lyman break galaxy LBG Louis Berger Group, Inc. LBG Linde, Buzo, and Gray (vector quantization method) to address EU competition concerns, and pump about 30 billion pounds (49 billion dollars, 33 billion euros) into the pair. "To promote greater competition in UK banking, and meet EU state aid rules, the banks will... be required to make divestments of significant parts of their businesses over the next four years," the Treasury said in a statement. Under the plans, the British government will pump another 25.5 billion pounds into Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba . RBS also said it would place 282 billion pounds of high-risk debts into the government's toxic asset insurance scheme. The developments will see the government's economic interest in RBS climb to 84 percent and its voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. rise to 75 percent. Lloyds Banking Group meanwhile unveiled plans to raise at least 21 billion pounds of new funds and pay a 2.5 billion pound fee for avoiding the state toxic asset plan. The government, which said it will participate in the fundraising, will retain a 43-percent stake in Lloyds. "Lloyds will not participate in the APS and instead will raise additional private sector capital and pay a fee to the taxpayer for the implicit protection provided to date," the Treasury added. "This will reduce the risk borne by the taxpayer, improving value for money." RBS said in a separate statement that it would sell its RBS branches in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. , and NatWest branches in Scotland, as well as its Churchill and Direct Line insurance division and parts of its investment banking arm. Lloyds Banking Group added that it would offload To remove work from one computer and do it on another. See cooperative processing. its Lloyds branches in Scotland, its Cheltenham & Gloucester branches, and the Intelligent Finance online business. The Treasury added that it had reached agreement "in principle" with EU Competition Commissioner Neelie Kroes Neelie Kroes (born July 19, 1941 in Rotterdam, Zuid-Holland) is a Dutch politician and businessperson. Neelie Kroes was a Member of Parliament in the Netherlands for the People's Party for Freedom and Democracy (VVD). over the restructuring. 
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