RBS set to reveal "Biggest Loss in UK Corporate History"

"Royal Bank of Scotland is on Monday expected to announce it suffered a £20bn loss last year as the state-controlled lender unveiled further damage as a result of the credit crunch" reports the FT, exceeding Vodafone's record trading deficit of £15bn in 2006. £7-8bn comes from the writedown of complex debt-related securities and more than £19bn loss has been generated in the second half of 2008 alone.