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Written question asked by Martin Whitfield (Labour) on Wednesday, 20 February 2019, in the House of Commons. It was due for an answer on Monday, 25 February 2019 (named day). It was answered by John Glen (Conservative) on Monday, 25 February 2019 on behalf of the Treasury.

Royal Bank of Scotland: Asset Protection Agency

Question

To ask the Chancellor of the Exchequer, if he will make public in unredacted form the 9 November 2011 document entitled Approval of the Asset Management Framework and Conflicts Management Policy, and related Modifications to the Accession Agreement.

Answer

The Asset Protection Agency (APA) was set up in 2009 to manage the Asset Protection Scheme (APS), with the objective of maintaining financial stability and protecting taxpayers’ interests by helping participating banks manage their exposure to high-risk assets.

The Royal Bank of Scotland (RBS) signed an ‘Accession Agreement’ to the APS dated 26 November 2009. This Agreement has previously not been published as it contained personal and commercially sensitive information. The Agreement is currently being reviewed with the intention of publication following redaction of any information that remains personal and commercially sensitive.

The APA’s Framework Document is currently available in unredacted form at: https://webarchive.nationalarchives.gov.uk/20130129110533/http://www.hm-treasury.gov.uk/apa.htm

The ‘Asset Management Framework and Conflicts Management Policy, and related Modifications to the Accession Agreement’ is also available, with the exception of a number of redactions of commercially sensitive information, at: https://webarchive.nationalarchives.gov.uk/20130129110533/http://www.hm-treasury.gov.uk/apa.htm

Secondary information

Type
Written question
Reference
224088
Session
2017-19
Grouped for answer
Yes
Subjects
Royal Bank of Scotland Asset Protection Agency
Link
View this Written question on www.parliament.uk