RBS faces fine over Libor fixing - Banking - News - Moneyfacts

News

RBS faces fine over Libor fixing

RBS faces fine over Libor fixing

Category: Banking

Updated: 10/09/2012
First Published: 10/09/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Royal Bank of Scotland is reportedly facing fines of up to £300 million for its involvement in the inter-bank rate fixing scandal.

Regulators in the US have been investigating the state-owned bank, and other institutions, following allegations that it manipulated Libor rates.

According to reports RBS is in 'advanced stages' of talks with authorities and is anticipated to make its first fine payment in the next three months.

RBS chief executive, Stephen Hester, admitted in July that the bank was bracing itself for a hefty fine, predicting that "we will have our day in that particular spotlight as well".

What Next?

Find the best bank account for you - compare bank accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Simple measures to improve banking security

The payments industry is gearing up for some big changes in the near-future, with the announcement of some key improvements that should help all of us be more secure when banking online.

Top cashback deals for festive rewards

Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, but there isn’t much time left to work out which are the good deals and which are the bad, so it’s time to take action!

Top cashback deals for festive rewards

Savvy shoppers will no doubt be looking to make the most of their hard-earned cash at this time of year, but there isn’t much time left to work out which are the good deals and which are the bad, so it’s time to take action!
 
Close