NatWest Group Plc has withdrawn its market securities business from the New York Federal Reserve’s primary dealer list, effective immediately.
The bank is streamlining its U.S. and European operations to focus on its core UK gilt market business. This strategic shift aims to enhance operational efficiency and reallocate resources to more profitable areas.
Relinquishing primary dealer status may reduce the bank's market access and influence in U.S. Treasury trading.
On the same day, NatWest issued $1 billion of 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032.