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RBS avoids 'good and bad' bank split

The government backed Royal Bank of Scotland will not split into separate 'good' and 'bad' banks.

The government backed Royal Bank of Scotland will not split into separate 'good' and 'bad' banks.

The bank, which is 81%-owned by the taxpayer, will create an internal ring-fence around £38bn of bad assets.

RBS also announced a pre-tax loss of £634m for the third quarter.

Andy Moore reports.