UKRBS faces massive fine in Libor saga

Royal Bank of Scotland (RBS) was facing a fine of up to £300 million (R3.9 billion) for its role in a global interest rate rigging scandal, the Financial Times reported on Saturday, without citing sources. The paper said RBS faced similar penalties to Barclays, which paid fines of £290m in a settlement in June with US and UK authorities for manipulating the London interbank offered rate. RBS said it could not comment on when a settlement would be reached. – Reuters