RBS faces fines to settle Libor probe
| Reuters
RBS is under investigation by U.S. and UK
authorities over its part in the interest rate rigging scandal and is
expected to be one of the next banks to settle after its UK rival
Barclays was fined $450 million in June.
"The
group expects to enter into negotiations to settle some of these
investigations in the near term and believes the probable outcome is
that it will incur financial penalties," RBS said as it reported
quarterly results on Friday.
The
part-nationalized bank said it had dismissed a number of employees for
misconduct after its own investigations into interest rate setting.
RBS Chief Executive Stephen Hester said the timing of a settlement is in the hands of regulators.
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