BNP Paribas takes over market-making reins from RBS
RBS structured products held by private investors in Belgium, Finland, Italy and Sweden are, as of today, the responsibility of BNP Paribas, which has taken over the official obligation to support the non-listed products it agreed to acquire from the UK bank in November last year
BNP Paribas has assumed market-making responsibilities for the range of structured products that Royal Bank of Scotland (RBS) passed over on completion of the deal to sell its entire portfolio to the French bank. The deal was reached on November 14, 2013 and was formally confirmed on February 24.
Ensuring that secondary markets are covered by BNP Paribas will affect the distributors of the former RBS products, but not listed products. Announcements appeared this morning on RBS Markets websites
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