Blueprint
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For September
28, 2016
Commission
File Number: 001-10306
The
Royal Bank of Scotland Group plc
RBS,
Gogarburn, PO Box 1000
Edinburgh
EH12 1HQ
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
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Form
20-F X
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Form
40-F ___
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):_________
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):_________
Indicate by check
mark whether the registrant by furnishing the information contained
in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________
The
following information was issued as Company announcements in
London, England and is furnished pursuant to General Instruction B
to the General Instructions to Form 6-K:
RBS Settles Certain RMBS Claims with the
National Credit Union Administration
The
Royal Bank of Scotland Group plc (RBS Group) has reached a final
settlement with the National Credit Union Administration Board to
resolve two outstanding civil lawsuits for US$ 1.1 billion
(£846 million). The settlements, involving its subsidiary RBS
Securities Inc., relate to the two residential
mortgage-backed securities (RMBS) cases (asserting claims on behalf
of US Central Federal Credit Union and Western Corporate Federal
Credit Union), most recently disclosed in RBS's 2016 Interim
Results Announcement ("2016 Interim Results"). The settlement
amount is substantially covered by existing provisions as of 30
June 2016 and will have no material impact on the RBS Group's CET1
ratio.
RBS
continues to litigate various other RMBS-related civil claims
identified in its disclosure, including those of the Federal
Housing Finance Agency, and to respond to investigations by the
civil and criminal divisions of the U.S. Department of Justice and
various other members of the RMBS Working Group of the Financial
Fraud Enforcement Task Force (including several state attorneys
general). As previously stated, RMBS litigation and investigations
may require additional provisions in future periods that in
aggregate could be materially in excess of the provisions existing
as of 30 June 2016. Please see RBS's 2016 Interim Results for
further details.
RBS
will publish its Q3 2016 results on 28 October.
For
further information contact:
RBS
Investor Relations
Alexander
Holcroft
Head of
Equity Investor Relations
+44 20
7672 1758
Matthew
Richardson
Head of
Fixed Income Investor Relations
+44 20
7678 1800
RBS
Media Relations
+44 131
523 4205
Forward-looking statements
This announcement contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, including those related to RBS and its subsidiaries'
regulatory capital position and requirements, financial position,
future pension funding requirements, on-going litigation and
regulatory investigations, profitability, impairment losses and
credit exposures under certain specified scenarios. In addition,
forward-looking statements may include, without limitation,
statements typically containing words such as "intends", "expects",
"anticipates", "targets", "plans", "believes", "risk", "estimates"
and words of similar import. These statements concern or may affect
future matters, such as RBS's future economic results, business
plans and current strategies. Forward-looking statements are
subject to a number of risks and uncertainties that might cause
actual results and performance to differ materially from any
expected future results or performance expressed or implied by the
forward-looking statements. Factors that could cause or contribute
to differences in current expectations include, but are not limited
to, legislative, fiscal and regulatory developments, accounting
standards, competitive conditions, technological developments,
exchange rate fluctuations and general economic conditions. These
and other factors, risks and uncertainties that may impact any
forward-looking statement or RBS's actual results are discussed in
RBS's UK Annual Report and Accounts and materials filed with, or
furnished to, the US Securities and Exchange Commission, including,
but not limited to, RBS's Reports on Form 6-K and most recent
Annual Report on Form 20-F. The forward-looking statements
contained in this announcement speak only as of the date of this
announcement and RBS does not assume or undertake any obligation or
responsibility to update any of the forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
Date:
28 September 2016
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THE
ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
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Name:
Title:
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Jan
Cargill
Deputy
Secretary
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