ROYAL BANK OF SCOTLAND TO OPEN ART COLLECTION TO PUBLIC

THE ROYAL BANK OF SCOTLAND, EDINBURGH, WHICH WAS RECENTLY SAVED FROM BANKRUPTCY BY A £20 BILLION GOVERNMENT BAILOUT, HAS BEEN FEELING PRESSURE FROM ART CHARITIES AND BRITAIN'S DEPARTMENT OF CULTURE TO PUBLICLY DISPLAY ITS ENORMOUS ART COLLECTION, WHICH IT NOW HAS TO DO. THE COLLECTION, ONE OF THE LARGEST IN PRIVATE HANDS, CONSISTS OF MORE THAN 2,200 WORKS OF BRITISH ART INSTALLED IN OFFICES AND BRANCHES AROUND THE COUNTRY. INCLUDED ARE PIECES BY DAVID HOCKNEY AND L.S. LOWRY AS WELL AS RARE 19th CENTURY WORKS BY JOSHUA REYNOLDS AND JOHANN ZOFFANY. THE BANK, WHICH IS 70% PERCENT OWNED BY BRITISH TAXPAYERS, HAS BEGUN DISCUSSIONS WITH THE NATIONAL GALLERIES OF SCOTLAND, MUSEUMS, AND ART EXPERTS ABOUT PUTTING ON EXHIBITIONS AND LOANING OUT SOME OF THE WORKS. RBS SAID IT HAS BEEN TOLD IT POSSESSES 10 PIECES OF "NATIONAL MUSEUM QUALITY" AND SOME 40 MORE OF "HISTORICAL IMPORTANCE". HOWEVER, THE BANK HAS REFUSED TO DIVULGE A FULL LIST OF THE WORKS IT OWNS OR THEIR ESTIMATED VALUE.