UK's RBS fined $615 million in rate rigging probe
LONDON Feb 6 (Reuters) - Royal Bank of Scotland will pay $615 million to U.S. and British authorities to settle allegations it manipulated key interest rate benchmarks including the London interbank offered rate (Libor).
The bank said on Wednesday John Hourican, head of RBS's investment bank had agreed to leave following the misconduct of staff in that business.
Part state-owned RBS is the third bank to be punished following investigations into rate-fixing by authorities around the world.
Switzerland's UBS agreed to pay $1.5 billion to settle charges while Barclays paid approximately $450 million.
- Tweet this
- Share this
- Digg this
- Argentina fails to reach debt agreement, default looms |
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Insight - European regulators training sights on Google's mobile software
- Russia wants Apple, SAP to cooperate against foreign spying
- Libyan militants overrun Benghazi special forces base as chaos deepens