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Economy

xchrom

(108,903 posts)

5. RBS braced for hefty Libor fines

Reply to Tansy_Gold (Original post)

Thu Jan 10, 2013, 09:20 AM

Jan 2013

http://www.bbc.co.uk/news/business-20973130

The Royal Bank of Scotland is in negotiations with UK and US regulators over fines to be paid for its Libor transgressions, the BBC has learned.

BBC business editor Robert Peston says the talks include "other necessary remediation, including a possible senior resignation".

He says the fines will run to several hundred million pounds, more than the £290m fines paid by Barclays.

Last month, UBS paid £940m in fines for attempted Libor rate manipulations.

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