Royal Bank of Scotland will announce a substantial balance sheet restructuring in the next few weeks, according to the Financial Times.

RBS chief financial officer Bruce van Saun and group capital management head David O’Loan have yet to settle the details of the restructuring, according to the unnamed sources quoted by the paper, but a £10 billion (about $15 billion) debt buy-back could be the vehicle.

The paper pointed to Lloyds TSB, which undertook a restructuring of similar size and type in December 2009.