Mortgage News
RBS ‘still negotiating’ with FSA over LIBOR fine
Royal Bank of Scotland is still in negotiations with the Financial Services Authority (FSA) over how much it will have to stump up for its role in the LIBOR manipulation scandal.
The Guardian reports an announcement from the state-owned lender is due shortly, as it settles with UK and overseas regulators.
The report also states Swiss bank UBS is also close to agreeing a £1bn fine with global regulators.
RBS chief executive Stephen Hester has already stated he believes the fine will be substantial and he wants to have it settled by the time the bank reports its full year results in February.
