Royal Bank Of Scotland Research Articles

The public sector balance sheet

This article addresses the issues raised by banking groups, including Northern Rock, Bradford and Bingley, Royal Bank of Scotland and Lloyds Banking Group, coming into the public sector. In particular clarifying how they are presented in the National Accounts and public sector finances and discussing the publication of more asset and liability detail than currently shown in public sector finances balance sheets. The article then proceeds to consider the impact on public sector net debt and the relevance of different measures of debt.

Be ready to fight

‘Death and taxes’ are supposed to be the two universal experiences in life. For most of us, there is a third, which comes before the former, and after the latter – living on a pension. Pensions are a hot topic. Anyone who picks up a newspaper or listens to the news will know about the nice little earner negotiated by Sir Fred Goodwin, former chief executive of the Royal Bank of Scotland. There has been uproar at this ‘reward for failure’, and calls for a new law to strip him of his gigantic pension.

Prospects for the Uk Economy

Since our October forecast events have conspired to worsen the outlook for the UK and global economy. Concerns about the solvency of banks across the globe have continued, and in some cases intensified. The inter-linkages of the global economy continue to be highlighted as the list of economies slipping into recession grows, even for those who have not suffered the direct shock of a crisis in their domestic banking system. Indeed what started as a problem in securities markets related to sub-prime lending in the US mortgage market has evolved into the near collapse of the global banking system. The UK has enjoyed the fruits of the rapid growth of financial intermediation over the past decade. However, such gains are being sharply reversed, as discussed on pp. 4–8 of this Review. The problem of access to credit for households and non-financial corporations still persists and, if anything, the situation seems to have deteriorated. As discussed on pp. 71–2 of this Review, Bank of England data suggest that lending by banks to households and businesses contracted in the final quarter of last year, even though £37 billion (2.6 per cent of money GDP) of new capital was injected into two major UK banking groups, effectively nationalising one of them (Royal Bank of Scotland).

The future of organisational learning

PurposeThe paper's purpose is to compare and contrast employees' view of training and development with that of employers. It seeks to identify synergies between what employees want to learn and the way in which they would like to develop their skills, with the training made available to them by their organisations.Design/methodology/approachTwo separate but complementary surveys were carried out simultaneously: a qualitative study, consisting of in‐depth, face‐to‐face interviews with senior HR executives in large organisations from a cross spread of industry sectors, including Atos Origin, BDO Stoy Hayward, DHL, GSK, HBOS, ING Direct, LloydsTSB, Nestlé Purina, Parexel, Pilkington Group, Reuters, Royal Bank of Scotland, SITA, TDK, T‐Mobile, and Virgin Atlantic. The second survey was a quantitative web‐based survey, open to anyone in full time employment. Over 5,360 people participated and almost all industry sectors were represented, as was most of the public sector.FindingsThe findings focused on the following areas: employee engagement; quality, value and impact; the critical role of managers; employee productivity; focus on the learner; and the future vision.Practical implicationsThe paper provides HR professionals with a benchmark for shaping learning and development programmes.Originality/valueThe paper shares current best practice in organisational development and gives a steer on future delivery methods and approaches.

Film Finance Inc v The Royal Bank of Scotland

Film Finance Inc v The Royal Bank of Scotland

Top of the rock observatory

AbstractSmack dab in the middle of the famous cluster of Manhattan towers, a new tri‐level, indoor‐outdoor observation deck on top of the tallest building in Rockefeller Center (the ge Building) brings visitors close to the surrounding pinnacles with overviews of the New York archipelago. One surprise, as Jayne Merkel explains, is that this sensational tourist site, with a glittery, spiralling, three‐storey entrance, was designed by Michael Gabellini, the New York architect known for pristine boutiques in elegant old buildings, such as the Jil Sander store in the former Royal Bank of Scotland on London's Saville Row. Copyright © 2006 John Wiley & Sons, Ltd.

Human‐capital measuring at the Royal Bank of Scotland

PurposeThe paper's purpose is to highlight the rigour that the Royal Bank of Scotland (RBS) has applied to human‐capital measuring in its employment systems.Design/methodology/approachDraws on the author's report for Croner's, Human Capital Management, A Management Report.FindingsReveals how the bank links employee data with reward preferences, business productivity and turnover, to provide a rich source of feedback pointing to trends that require management action.Practical implicationsDemonstrates that there are circumstances when the use of bare statistics without explanation or careful analysis could lead to less, rather than more, transparency. Judicious human‐capital reporting requires as much attention to interpretation as it does to the hard data.Originality/valueDeals with a subject that has received relatively little treatment in the HR literature.

Corporate social and environmental responsibility in web-based reports: Currency in the banking sector?

Abstract The argument that accounting is an interested endeavour, premised on social practices, suggests that an examination of the quantity of corporate social reporting (CSR) in shareholder reports is too simplistic an avenue of exploration. An analysis of web-based financial and CSR reports, using a discourse/textual analytic approach, has raised questions regarding how these issues are given (and denied) prominence in this context by virtue of their physical positioning and persuasive language. In the study, web-based forms of reports of five banking groups are examined, Lloyds/TSB, the Royal Bank of Scotland, HSBC, Barclays and the Co-operative Bank. It is argued that, rather than the production of stand-alone reports signalling the growing importance of CSR considerations, in this context they function to peripheralise the information. Although it is evident that organizations are beginning to articulate a stance with regard to CSR, as increasingly more attention is being paid to social and environmental issues, simple articulation is no longer sufficient.

Managing integration through cooperation

AbstractIn profiles of Nokia, BP, OgilvyOne, and Royal Bank of Scotland, all high‐performing companies, the author shows how the executive team in each company believed the capacity to work cooperatively across borders was one key to the success of its company. Cooperative working within teams and across internal and external boundaries of a company provides much of the value‐creation opportunities within an organization. © 2005 Wiley Periodicals, Inc.

Countdown to survival [manufacturing IT

After being acquired by the Royal Bank of Scotland (RBS) in July 2001, the Somerset-based structural castings manufacturer, Doncasters Chard, had only six months to install a completely new manufacturing software system and the IT infrastructure to go with it, in addition to putting in the necessary infrastructure and business processes and recruiting for the newly-created specialist functions. Doncasters implemented a 22-seat software system running on a Windows 2000 server with an SQL database, Microsoft Exchange and Microsoft Office 2000 throughout. Using a combination of the new system and some lean manufacturing practices, the company saw lead times fall from an average of eight weeks to just four and as a result of OTD improvements, Doncasters received an award from Rolls Royce as its top supplier for full and on-time delivery.

Techbits (February 2005)

The importance of interpreting and applying right decisions in data management and technology development in Central and Eastern European fields was the focus of the Applied Technology Workshop (ATW) “Field Management of Mature Reservoirs” held in Vienna, Austria. Through presentations, case studies, and syndicate sessions, participants conferred on the following topics: - Accessing data and discovering the value of mature reservoirs. - Recognizing existing technologies that can be applied success-fully in mature reservoirs. - Tools to unlock value in mature assets. - How future technologies will affect mature assets. - From today’s reality to tomorrow’s dream as described by E&P and service company senior management. Good reservoir review, field management, and using the right technologies were considered in the first technical session. Particular emphasis was placed on the importance of standards, change management, documentation of a good track record in conjunction with business processes, and collaboration with people. The fact that a significant amount of data can no longer be read or accessed as a result of changes in asset management was also addressed. The second session highlighted case histories that illustrated how existing technologies provided correct solutions in alignment with best practices in Central Europe’s Mesozoic formations and in the Carpathian range. The session was devoted to proving that right understanding of mature-reservoir problems must exist in advance to select proper technologies for application. When the right degree of understanding exists, a substantial number of existing methods and equipment is available for use in mature reservoirs. The impact of differing stakeholder perspectives and requirements on the management of mature E&P assets was presented in the third technical session. Steve Mills from the Royal Bank of Scotland presented the investor’s point of view toward the materializing process and the importance of selecting the proper investment plan. Beate Raabe of the Intl. Assn. of Oil and Gas Producers presented the European Union administrative viewpoint regarding development of mature assets and taking into account future regulatory requirements. Representatives from Wintershall A.G. and Industrija Nafte d.d. presented company strategies for development of mature fields as part of an asset portfolio and showed how these fields still can offer attractive options for E&P companies.

Politics or markets? The determinants of cross‐border financial integration in the NAFTA and the EU

One of the most striking political developments of the past two decades has been the heightened interest at both a practical and theoretical level in new institutional arrangements that may be driv...

The continuing saga – Basel II developments: liquidity regulation into the 21st century

Leverick, Head of Balance Sheet Management for the Royal Bank of Scotland and a stalwart of the Asset and Liability Management Association, takes a look at the latest situation in the efforts to provide regulation that is intended to bring order to liquidity.

Burden of Proof in Undue Influence: Common Law and Codes on Collision Course

Before the case of Royal Bank of Scotland v Etridge (No. 2), the modern presumption of undue influence appeared to be a potent one that had to be rebutted on a balance of probabilities. While it is clear from Etridge that the House of Lords intended to curtail the force of the presumption, it is difficult to determine the precise extent to which the presumption retains evidential significance. This is because the House of Lords failed to indicate whether the revised presumption was now one of law, casting the evidential burden upon the alleged dominant party to disprove the finding of undue influence, or simply one of fact, shifting the tactical burden. This is unfortunate because whether the alleged dominant party bears the evidential or the tactical burden can have a decisive effect on the outcome in borderline cases. This debate would be inconsequential for jurisdictions whose codified evidence laws are based on the work of Sir James Fitzjames Stephen if not for the fact that some courts have hitherto erroneously assumed that there is no difference between the codified and common law presumptions of undue influence. After Etridge, these jurisdictions can no longer afford to make such an assumption and must grapple with the interface between the common law presumption and its statutory counterpart.

Executive development at BAA, Royal Bank of Scotland and the BBC

There was once a time (not so long ago) when management development was all about career progression, succession planning and not a lot else. You did your obligatory MBA in order to get that promotion you wanted then, once you reached the heady heights of senior management, you put all thoughts of “development” aside whilst concentrating on other, more strategic and profitable issues.

When Equality Is not Equity:Homosexual Inclusion in Undue Influence Law

In Barclay's Bank v. O'Brien(1993) the House of Lords extended the undue influence rules to heterosexual and homosexual cohabitees, a move that was widely welcomed and has been endorsed in Royal Bank of Scotland v. Etridge (No. 2) (2001). The paper argues that the extension to homosexual couples is inappropriate, since undue influence is largely a problem of heterosexuality. It is not accidental that there have been no reported cases of undue influence between lesbian or gay partners, not because abuses of power do not occur within such relationships, but because they are free of the central causal factor of undue influence: not intimacy per se but the gendered power dynamic within heterosexual intimacy that has characterised almost all reported cases. The first part of the paper examines the courts' treatment of gay and lesbian couples in other areas of equity and concludes that the absence of gender role assumptions leads courts to treat lesbian and gay claimants more equitably than they do heterosexual women. The second part focuses on the potential for gay and, especially, lesbian relationships to act as models of more egalitarian relationships than heterosexual ones. The dominant discourse of inclusion within the gay and lesbian legal lobby is problematised, and the paper concludes that what is needed is social and judicial recognition of what is different, not what is the same, about our relationships.

Surety Wives in the House of Lords: Time forSolicitors to `Get Real'?Royal Bank of Scotland plc v. Etridge (No. 2) [2001] 4 All E.R. 449

This note considers the recent House of Lordsdecision in Royal Bank of Scotland plc. v.Etridge (No. 2). It concerns the familiarscenario of a wife jointly mortgaging (orproviding a guarantee for a mortgage of) thefamily home in order to secure financialsupport for a business run by her husband. Ina landmark judgement, Lord Nicholls set out newand specific procedures to be followed bylenders and solicitors who are providingindependent advice, in order to counter anyargument by the wife that the charge should beset aside because her signature on the lender'scharge has been obtained by the undue influenceof her husband. This note considers the impactof the decision upon the parties involved insuch transactions. Special consideration isgiven to the surety wife and her chances ofdefending possession proceedings brought bylenders in the post Etridge era.

Royal Bank of Scotland launches new online training

Royal Bank of Scotland launches new online training

E-learning: a Step Change in Developing our People

E-learning – is it all it's made out to be? Does it deliver what it promises? In this article, I hope to convince you that it does? I'll explain why, as Head of Resource Development for the Retail Branch Networks for the Royal Bank of Scotland Group, I believe it has proved successful. The Royal Bank of Scotland (RBS) and National Westminster (NW) Branch Networks consist of over 2,300 branches employing approximately 30,000 people throughout the U.K. My team are responsible for the design, development and implementation of training and development for these staff. We consider that in today's climate of accelerated change, high performance depends critically on the extent to which our intellectual capital is built, refreshed and leveraged – why?Our customers expect that, as a minimum, our people are appropriately trained and can handle all their enquiries efficiently and effectively. Competent staff and the delivery of excellent customer service are not an option for the Group, but a necessity if we are to sustain our competitive advantage in the financial market place.

Rough times for Huntingdon Life Sciences

UK-based Huntingdon Life Sciences (HLS) research company has been under continuous attack by animal rights campaigners ever since Channel 4 in the UK broadcast a documentary about malpractice at HLS. Fanatical groups such as ‘Stop Huntingdon Animal Cruelty’ (SHAC) are determined to force HLS to close down. Verbal protests started at the company's gates, but later HLS employees were threatened and some were victims of attacks on their homes. Now, the campaigners have found HLS's Achilles heel by ‘blaming-and-shaming’ the companies that finance them, as described in a recent article in the Financial Times. Last year, Philips and Drews sold its interest in HLS after staff and directors received hate mail from activists, and WestLB Panmure withdrew as the company's broker after one of its parties was gatecrashed by the campaigners. Other financers that withdrew were HSBC bank, TD Waterhouse brokers and the Labour Party pension fund. HLS was brought to its knees last month when one of its main financiers, the Royal Bank of Scotland, decided to withdraw their investments. A light in the dark for HLS is the public support by UK Prime Minister Tony Blair and former Prime Minster John Major. Moreover, Reuters reported recently that the Arkansas-based investment firm Stephens Group has provided a loan that covers the gap left by the Royal Bank of Scotland. J.d.B.