Advertisement

Daily Mail reports RBS facing prospect of 500m fine

The Daily Mail's online incarnation, the Mail Online, has reported rumours that the Royal Bank of Scotland may be facing the prospect of a 500m pound fine over its alleged role in the LIBOR interest-rate rigging scandal.

The Daily Mail's online incarnation, the Mail Online, has reported rumours that the Royal Bank of Scotland may be facing the prospect of a 500m pound fine over its alleged role in the LIBOR interest-rate rigging scandal.

The news agency suggests that the bank is in talks with watchdogs in the UK and US and predicts that details of the settlement possibly announced next week.

Advertisement - Article continues below

Citing unnamed sources who it claimed were "familiar with the situation", the news website said they expected the fine could fall within the "ballpark" range of £400-to-£500m.

The news comes just weeks after UBS was forced to pay £930m in December and Barclays announced it would pay a £290m settlement.

Noone was available to comment at RBS when ShareCast contacted the press team.

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020