Barclays Capital 2010 Global Financial Services Conference
Funding - Consistent access to wholesale markets RBS
RBS has issued over £24bn of term funding in 2010 YTD
RBS term funding issuance during 20101
220
Q1 10 £8.1bn²
-
Q2 10 £5.3bn²
-
Q3 10 £10.9bn 2,3
€1.25bn 3 year
Covered bond
€1.25bn 2 year FRN5
$1.5bn 3 yr
$1.5bn 10yr
$0.6bn 3yr FRN
200
€2.0bn 7 year
180
€1.0bn 10 year
160
€1.25bn 5 year
140
AUD1.5bn 3 year
CHF0.35bn 5 year
€1.5bn 5 year
Covered Bond
120
$2.0bn 5 year
100
1-Jan
1-Feb 1-Mar 1-Apr 1-May 1-Jun 1-Jul
1-Aug 1-Sep
– iBoxx.EUR.Banks.Senior4
£24.3bn 2010 term funding achieved
YTD vs target of £25bn
Term funding issuance split between
public issues (£12.5bn) and private
placements (£11.8bn)
■Strong private placement capabilities
linked to structured and equity linked
businesses within GBM
All settled public benchmark deals
completed in 2010 have minimum tenor
of 3 years
■Regular term issuance throughout 2010
in a variety of currencies
■■ €15bn Covered Bond programme
registered with the FSA on 1 April 2010,
€2.75bn issued to date
19
1. Benchmark public deals highlighted in graph only 2. Total private and public term funding issuance 3. Total issuance completed in Q3 10 so far. 4. iBoxx European Senior bank debt index 5. Trade issued early
September and will settle later in September 6. c£2bn of senior debt issued as part of Exchange Offer conducted in Q2 2010 included within public issuanceView entire presentation