February 6, 2018 / 11:56 AM / 2 months ago

BRIEF-Santander Uk ‍Updates On Ring-Fencing And Part Vii Transfer Scheme​

Feb 6 (Reuters) - Santander Uk Plc:

* ‍UPDATE ON RING-FENCING AND PART VII TRANSFER SCHEME​

* ‍SANTANDER UK WILL ALSO BROADLY, TO EXTENT ALLOWED BY LEGISLATION, CONTINUE TO HOLD AND SERVE SANTANDER’S CORPORATE BANKING BUSINESS IN UK​

* ‍ABBEY NATIONAL TREASURY SERVICES WILL TRANSFER ALL OF BUSINESS TO EITHER SANTANDER UK OR SLB, SAVE FOR A SMALL PORTFOLIO OF SPECIFIC ASSETS

* CO, ANTS ARE UNDERTAKING SCHEME TO HELP ENSURE THAT SANTANDER UK GROUP WILL, AHEAD OF 1 JAN 2019, BE COMPLIANT WITH RING-FENCING PROVISIONS

* ‍ON 5 FEBRUARY 2018, COURT APPROVED SANTANDER UK’S AND ANTS’ COMMUNICATIONS PLAN IN RESPECT OF SCHEME​

* ‍IF SCHEME IS APPROVED AT THAT HEARING, TRANSFERS OF BUSINESS UNDER SCHEME WILL BE EFFECTED IN JULY AND AUGUST 2018 AS SET OUT IN SCHEME​

* ‍IF SCHEME IS APPROVED AT HEARING ON JUNE 11, TRANSFERS OF BUSINESS UNDER SCHEME WILL BE EFFECTED IN JULY AND AUGUST 2018 AS SET OUT IN SCHEME​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below