To: Epstein, Jeffreyueevacation@gmail.com]
From: Landon Thomas
Sent: Mon 10/26/2009 2:41:44 PM

How does 30 billion square with this report below?

Oct. 24 (Bloomberg) -- Royal Bank of Scotland Group Plc, 70 percent owned by the U.K. government, plans to reduce reliance on the government's asset-protection program, the Financial Times said, citing people familiar with the matter.

RBS plans to reduce the potentially toxic assets it will protect under the insurance plan to less than 300 billion pounds ($489 billion) from 325 billion pounds, the FT reported. The bank may cut the insured assets to as little as 265 billion pounds, the paper said, adding that the premium it pays the government may remain at 19.5 billion pounds.

RBS is expected to announce details of the plan in mid- November, the FT said. The bank is also speaking to shareholders about supporting a plan to raise as much as 5 billion pounds in a rights issue and sale of new shares, the paper reported.

Neil Moorhouse, an RBS spokesman, declined to comment today in a telephone interview.

Landon Thomas, Jr.
Financial Correspondent
New York Times
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