RBS’s (NYSE:RBS) restructuring has cost 38 billion euros ($60.5 billion), CEO Stephen Hester tells employees in an email. It almost collapsed in 2009, and the restructuring since that time includes monies from loan losses, disposal costs and restructuring charges. Still, Hester says, “We are ahead of schedule in (our) clean-up.”

Bank of America (NYSE:BAC) has the biggest bill for problematic mortgages and foreclosure abuse with its amount totaling $41.8 billion. Other banks included in the excess of $72 billion loss, according to a Bloomberg analysis are Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM) and Ally. “It’s a colossal failure of basic banking,” says analyst David Knutson.

Don’t Miss: Banks Brace for Epic Costs from Incredible Incompetence.

Blackrock (NYSE:BLK) discloses (13D) to the Securities Exchange Commission that it increased its stake in Pep Boys (NYSE:PBY) to 8.4%. The increased stake came after a flurry of trading (buys and sells) on both the New York Stock Exchange and private exchanges over the last two months.

Hartford Financial (NYSE:HIG) soars after CEO Liam McGee says the insurer had considered the possibility of a breakup. Its largest shareholder also pushed for a breakup. “Hartford needs to do something drastic because the stock is the lowest valuation relative to book value of any major insurance company,” says John Paulson, whose hedge fund owns an 8.7% stake.

Investing Insights: Broadridge Financial Solutions and Gartner in Investing Spotlight Post Earnings.

Intercontinental Exchange (NYSE:ICE) moves higher after its fourth quarter earnings per share beat expectations earlier today. Revenue grew 15% year-over-year, and the company expects it to grow by at least 10% in 2012. The growth is expected thanks to rising commodity derivatives demand.

Capital One’s (NYSE:COF) controversial bid to buy ING Direct USA (NYSE:ING) was rescheduled to Monday without explanation by the Federal Reserve Board. COF’s deal caught community groups’ attention. Concerns are about banks getting too big, given its ING bid is the biggest bank deal since the financial crisis.

Investing Insights: Insurance Companies Hartford Financial and Lincoln National Earnings Attract Interest.

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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