As expected, RBS (RBS +1.5% in London) will leave the U.K. government's Asset Protection Scheme...

|By:, SA News Editor

As expected, RBS (RBS +1.5% in London) will leave the U.K. government's Asset Protection Scheme tomorrow. The APS is an insurance program covering the bank's "toxic assets" - many of which have been sold or written off - and has cost it £2.5B in premiums since it joined in 2009; RBS's departure will save it £800M a year and is seen as a first step towards its re-privatization. (PR)