Royal Bank of Scotland has said it is in discussions with museums to display publicly its British art collection, which has about 2,200 pieces, including the works of David Hockney, LS Lowry and Sir William McTaggart. RBS last exhibited in 2003, when 40 paintings were shown in Manchester.

The art collection of Lehman Brothers is set to be auctioned, with the first lots due to be sold on November 1 by Freeman’s in Philadelphia. The estimated value is $1.1m.

• The Lehman auction catalog