RBS could face 800m dollar LIBOR fine, media report claims

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News agency Bloomberg has reported that Royal Bank of Scotland could face a fine of 800m dollars as soon as next week to settle allegations that traders tried to rig interest rates, citing two unnamed sources who it claimed had knowledge of the matter.

If the report proves accurate, it would represent the second largest fine levied by a regulator in the LIBOR investigation.

Bloomberg further reported that Investment Banking Chief John Hourican and Peter Nielsen, Head of Markets at RBS could also be asked to leave, again referencing the two unnamed.

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RBS' share price was down 1.10% to 360.50p at 09:11:57 on Tuesday morning.

RBS declined to comment when ShareCast contacted it on Tuesday morning.

MF