independent

Monday 21 April 2014

RBS to make £390m payment over Libor

ROYAL Bank of Scotland will pay £390m 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 over a billion to settle charges while Barclays also had to stump-up.

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Top Stories

Most Read

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News