Board of Governors of the Federal Reserve System

bonds, nominal2 1,172,921 + 26,846 + 464,049 1,185,240 Notes and bonds...bonds at face value and mortgage-backed securities at original face value

Public Section The Royal Bank of Scotland Group plc Resolution Plan Page | i-1 RBS US Title I Plan Chapter 1. Public Section Chapter 1: Public

bonds appear to have diminished the potential for an upsurge in such issues

S u m m ar y 1 Z .1 , M ar ch 1 2, 2 01 5 F lo w o f F un ds M at ri x fo r 20 14 (B ill io ns o f do lla rs ; A ll Se ct or s -- F lo w s)

Bonds F.212 37 L.212 82 Corporate Equities F.213 38 L.213 83 Mutual Fund...bonds 1.0 2.8 4.3 2.9 1.6 3.3 4.7 3.5 3.5 7 8 Bank loans n.e.c. 4.3 3.7

Bonds F.212 37 L.212 82 Corporate Equities F.213 38 L.213 83 Mutual Fund...bonds 3.0 3.5 6.0 5.6 3.1 3.4 4.4 4.0 3.8 4.0 7 8 Bank loans n.e.c. 6.2

Bonds F.212 37 L.212 82 Corporate Equities F.213 38 L.213 83 Mutual Fund...bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 7 8 Bank loans n.e.c

Bonds F.212 37 L.212 82 Corporate Equities F.213 38 L.213 83 Mutual Fund...bonds 27.2 22.8 22.9 21.1 17.3 27.7 24.8 30.7 26.0 48.1 7 8 Bank loans

bonds had risen noticeably--often a precursor to downturns--measures of

bonds, nominal2 1,146,075 + 23,349 + 437,203 1,157,044 Notes and bonds...bonds at face value and mortgage-backed securities at original face value