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

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.

By MoneyWeek

published 15 January 2013

in Features

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.