RBS facing hefty fine as Libor scandal spreads: report

Royal Bank of Scotland is set to be fined about 150 million pounds for participating in market manipulation offences similar to those engaged in by Barclays , the Times reported on Friday. The newspaper ...

Royal Bank of Scotland Group saw 1.3-billion pounds (US$2.1-billion) wiped off its value on Tuesday following a report that it could face criminal charges as part of an impending settlement over its role in a global interest rate rigging scandal. The Wall Street Journal reported that U.S. authorities were pushing RBS to accept criminal charges as part of a settlement which will see it fined up to 500-million pounds for the attempted manipulation of the London interbank lending rate (Libor) and other benchmark interest rates.

LONDON (Reuters) - Royal Bank o

LONDON (Reuters) - Royal Bank of Scotland will be punished on Wednesday

Royal Bank of Scotland has also participated in the manipulation of the Libor rate, reported Financial Times. The bank paid £390 million or $612 million after confessing criminal price-fixing charges in the falsification of Libor. The report showed numerous staggering emails, showing how workers can be easily convinced to manipulate interest rates in exchange for steak dines.