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Royal Bank of Scotland fined $612 mn to settle Libor probe

Boris Greene

Royal Bank of Scotland fined $612 mn to settle Libor probe

State-rescued Royal Bank of Scotland will pay fines totalling $612 million (453 million euros) to US and British regulators to settle allegations of Libor interest rate rigging, it announced on Wednesday.

RBS, which is 81-percent owned by the government, said it has agreed to pay the equivalent of £391 million to regulators, becoming the third bank to admit its part in the Libor affair after British rival Barclays and Swiss lender UBS.

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