King call to split up RBS

Sir Mervyn King, governor of the Bank of England, said RBS should be broken up and called on the British government to use its 82% stake to split the bank into a good bank and a bad bank.

According to the article, Sir Mervyn said "nothing has been achieved" in the four years since RBS was rescued, and he argues the government should use its large ownership stake to carry out a split.

The article states RBS was rescued with £45 billion of taxpayer cash, plus hundreds of billions of pounds of state guarantees.

The article says the rescue occurred four years ago, and Sir Mervyn King commented that nothing has been achieved in that four-year period.

The article reports the British government owns an 82% stake in RBS and Sir Mervyn says that stake should be used to effect a breakup.

No. The article notes Sir Mervyn's call to split RBS into a good bank and a bad bank but does not provide detail or a definition of what each would hold.

In the article, that phrase reflects Sir Mervyn King's view that, despite the rescue and government support, meaningful progress or restructuring of RBS has not been delivered in the four years since the bailout.

The article says Sir Mervyn King believes the government should use its 82% ownership stake to split RBS into a good bank and a bad bank.