RBS State aid: alternative remedies package
These documents explain the alternative remedies package (ARP) and how eligible bodies can participate.
Documents
Details
BCR Implementation update 3 September 2018
Banking Competition Remedies Ltd is the independent body that will implement and oversee the ARP. Further detail on timelines and information for potential applicants is available on their website.
Implementation update 2 May 2018
The independent body which will implement and oversee the package has now been established as Banking Competition Remedies Ltd (BCR).
BCR has today (2 May 2018) announced the appointment of its executive leadership team who will take forward the process of operationally establishing the company and launching the alternative remedies package. BCR intends to launch the package in summer 2018 and will provide further detail on timelines and information for potential applicants in the coming weeks.
The annexes have been updated to reflect minor changes made since the previous drafts were published in September. The documents are available in clean and redline versions to highlight the changes made. Final versions will be made available by BCR.
The alternative remedies package (ARP) has been agreed between HM Government and the European Commission to replace the original State aid commitment on the Royal Bank of Scotland (RBS) to divest its Williams & Glyn business.
The ARP is designed to improve competition in the UK business banking market, addressing the market distortions resulting from the provision of state support to RBS, and to resolve RBS’ State aid commitments.
The ARP consists of two measures: a £425 million Capability & Innovation Fund and a £350 million Incentivised Switching Scheme. The documents above provide information explaining the ARP and how eligible bodies can participate.
Updates to this page
Last updated 3 September 2018 + show all updates
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Link to Banking Competition Remedies Ltd website added.
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The independent body which will implement and oversee the package has now been established as Banking Competition Remedies Ltd (BCR). BCR has today announced the appointment of its executive leadership team who will take forward the process of operationally establishing the company and launching the alternative remedies package. BCR intends to launch the package in summer 2018 and will provide further detail on timelines and information for potential applicants in the coming weeks. The annexes have been updated to reflect minor changes made since the previous drafts were published in September. The documents are available in clean and redline versions to highlight the changes made. Final versions will be made available by BCR.
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First published.