Seeking Alpha

Jefferies reiterates RBS buy after extra charges

  • The surprising £2.9B of Q4 charges primarily due to MBS litigation doesn't change the Buy-thesis on RBS, says Jefferies, who had previously targeted a worst case litigation risk of £4B.
  • Now with some concrete numbers, it appears the capital impact is manageable and was already factored into the planning behind the creation of the bad bank.
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