LONDON Feb 6 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
Switzerland's UBS agreed to pay $1.5 billion to
settle charges while Barclays paid approximately $450