Taxpayer-owned Royal Bank of Scotland has sought to put an end to the storm that has surrounded its now-defunct Global Restructuring Group (GRG) by outlining a compensation scheme for the 12,000 small businesses that were customers of the division between 2008 and 2013.

Press coverage of the ‘RBS GRG’ (and ‘Lloyds BSU’) situation is confusing on the issue of conspiracies to bring businesses down, leaks about what actually happened and what the FCA are proposing in terms of compensation for SME’s affected.