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| Version 2 | Version 3 |
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| The Royal Bank of Scotland sinks £1.4bn into the red | The Royal Bank of Scotland sinks £1.4bn into the red |
| (about 11 hours later) | |
| Royal Bank of Scotland has plunged back into the red with a £1.4bn ($2.3bn) pre-tax loss during the three months to September. | Royal Bank of Scotland has plunged back into the red with a £1.4bn ($2.3bn) pre-tax loss during the three months to September. |
| RBS blamed the loss on changes to the "fair value" of its own debt, but said it was making "tangible progress". | RBS blamed the loss on changes to the "fair value" of its own debt, but said it was making "tangible progress". |
| The bank, 84%-owned by the tax payer, had appeared to be on the mend after it reported a profit of £1.15bn for the previous three months. | The bank, 84%-owned by the tax payer, had appeared to be on the mend after it reported a profit of £1.15bn for the previous three months. |
| Market conditions would remain challenging, RBS said. | Market conditions would remain challenging, RBS said. |
| Chief executive Stephen Hester said the bank was making "good progress in our recovery", but that highly volatile accounting charges could "obscure our underlying story". | Chief executive Stephen Hester said the bank was making "good progress in our recovery", but that highly volatile accounting charges could "obscure our underlying story". |
| RBS said while bad debt provisions were improving, changes to the "fair value of own debt" had caused the losses. | RBS said while bad debt provisions were improving, changes to the "fair value of own debt" had caused the losses. |
| The bank's share price dropped sharply on the news, ending the day down 4.5% or 2.14 pence at 45p, making it the day's biggest loser on the FTSE 100 index. | |
| Since October 2008, the bank has announced 23,000 job losses worldwide, including 17,100 in the UK. | Since October 2008, the bank has announced 23,000 job losses worldwide, including 17,100 in the UK. |
| Government control | Government control |
| RBS led a consortium that bought Dutch bank ABN Amro before the credit crunch in 2007, but the deal was a disaster, weakening its balance sheet and forcing the government to pump in about £45bn to keep the bank afloat. | RBS led a consortium that bought Dutch bank ABN Amro before the credit crunch in 2007, but the deal was a disaster, weakening its balance sheet and forcing the government to pump in about £45bn to keep the bank afloat. |
| The government paid an average of 50.2 pence for each of the 90.6 billion RBS shares it bought to save the bank from collapse. . | |
| There are not thought to be any government plans to sell its stake in either RBS or Lloyds any time soon - both in the hope of making a larger profit as the bank continues to strengthen and the feeling that such a move could threaten the fragile banking recovery. | There are not thought to be any government plans to sell its stake in either RBS or Lloyds any time soon - both in the hope of making a larger profit as the bank continues to strengthen and the feeling that such a move could threaten the fragile banking recovery. |