FT: RBS in Settlement Talks on LIBOR Allegations
The Financial Times is reporting that the Royal Bank of Scotland is poised to settle allegations by regulators that some its traders acted to manipulate LIBOR. The Times said, citing people familiar with the matter, that the bank could have to pay L200 million to L300 million ($320 to $480 million) in the settlement.
The Times said the effort has been led in the UK by the Financial Services Authority and, in the U.S., by the Department of Justice and the Commodity Futures Trading Commission.
The newspaper said, according to people close to RBS, the deal should be finalized before year-end
To read the Financial Times story, click here.