Royal Bank of Scotland to exit U.S. mortgage business

Royal Bank of Scotland Plc's (RBS.L) securities unit will now exit its U.S. mortgage trading business after originally planning to shrink it by two-thirds.

Exiting mortgage backed-security, commercial real estate and commercial mortgage-bond sales and trading "is a necessary part of repositioning our US business," an RBS spokesman said in an emailed statement. 

RBS said in May it will eliminate hundreds of jobs in the United States over the course of two years to help reduce assets ahead of new rules by the U.S. Federal Reserve.

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