Barclays Capital 2010 Global Financial Services Conference
Funding & liquidity - good progress towards targets RBS
Consistent reduction in short term funding needs¹
Refinancing requirement outweighed by target reduction
in Non-Core third party assets (£bn)
400
£343bn²
£145bn
60
350
2013 Target
90
50
300
£250bn
250
40
£198bn
200
£150bn¹
£150bn
30
150
100
20
50
10
0
Worst Point FY09
H110
Short-term Liquidity
Funding Portfolio
H2 10
2011
2012
2013
3
Bank deposits Short-term wholesale funding
Run-off of Non-Core TPAs p.a.
Group maturing term funding p.a.
Positive momentum has commenced in RBS's underlying credit ratings with all three major rating agencies.
■Business natural deposit franchises in good health
■Long-term wholesale funding >1yr now 57% of total (50% FY09, 45% FY08)
£137bn of liquidity reserves as at 30 June 2010, target remains £150bn by end 2013
1 Amount of unsecured wholesale funding under 1 year including bank deposits 2 As at October 2008 3 Maturing term funding includes government guaranteed MTNs, unguaranteed MTNs and
subordinated debt, excluding c£28bn of GBM, Citizens and Ulster Bank own issued structured MTNS with a maturity profile of c£2-4bn per annum.
18View entire presentation