RBS 2008 Annual Report Download - page 26

25
Forward-looking statements
RBS Group Annual Report and Accounts 2008
Certain sections in this document contain ‘forward-looking statements’
as that term is defined in the United States Private Securities Litigation
Reform Act of 1995, such as statements that include the words ‘expect’,
‘estimate’, ‘project’, ‘anticipate’, ‘believes’, ‘should’, ‘intend’, ‘plan’,
‘probability’, ‘risk’, ‘Value-at-Risk (VaR)’, ‘target’, ‘goal’, ‘objective’, ‘will’,
‘endeavour’, ‘outlook’, ‘optimistic’, ‘prospects’ and similar expressions or
variations on such expressions including, but not limited to, sections
such as ‘Chairman’s statement’ and ‘Group Chief Executive’s review’.
In particular, this document includes forward-looking statements
relating, but not limited, to the Group’s potential exposures to various
types of market risks, such as interest rate risk, foreign exchange rate
risk and commodity and equity price risk. Such statements are subject
to risks and uncertainties. For example, certain of the market risk
disclosures are dependent on choices about key model characteristics
and assumptions and are subject to various limitations. By their nature,
certain of the market risk disclosures are only estimates and, as a
result, actual future gains and losses could differ materially from those
that have been estimated.
Other factors that could cause actual results to differ materially from
those estimated by the forward-looking statements contained in this
document include, but are not limited to: general economic conditions in
the UK and in other countries in which the Group has significant
business activities or investments, including the United States; the
monetary and interest rate policies of the Bank of England, the Board of
Governors of the Federal Reserve System and other G7 central banks;
inflation; deflation; unanticipated turbulence in interest rates, foreign
currency exchange rates, commodity prices and equity prices; changes
in UK and foreign laws, regulations and taxes; changes in competition
and pricing environments; natural and other disasters; the inability to
hedge certain risks economically; the adequacy of loss reserves;
acquisitions or restructurings; technological changes; changes in
consumer spending and saving habits; and the success of the Group in
managing the risks involved in the foregoing.
The forward-looking statements contained in this document speak only
as of the date of this report, and the Group does not undertake to
update any forward-looking statement to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
For a further discussion of certain risks faced by the Group, see Risk
factors on pages 27 to 34.