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BNP Paribas takes over responsibility for RBS products

BNP Pribas has assumed the official obligation to support the non-listed structured products of Royal Bank of Scotland held by private investors in Belgium, Finland, Italy and Sweden. The French bank will take over market-making responsibilities for the range of structured products that RBS passed over on completion of the deal to sell its entire portfolio to the bank. The deal was reached on November 2013 and was formally confirmed on February 24. The RBS website in Italy states that from 14 June, market-making and support for the RBS certificates listed on the website will be taken over by BNP Paribas. For certificates that are not listed, the UK bank has exercised the issuer call and the products will be called on 28 November. Any other structured products outstanding that do not qualify under these arrangements will remain with RBS.

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