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INVESTIGATION OF A BANK FAILURE
“Two lever arch folders and a CD” – the amount of information given to RBS by ABN Amro in April 2007
On management failures: “RBS management and board undoubtedly made many decisions which, at least in retrospect, were poor”
On the ABN Amro acquisition: “the board decided to go ahead with it on the basis of due diligence which was clearly inadequate relative to the risks entailed”
On regulatory supervision: “The key prudential regulations being applied by the FSA, and by other regulatory authorities across the world, were dangerously inadequate”
£25.5bn
Total amount injected into RBS by the UK government