RBS nears Libor case settlement
Source: Agencies |
January 30, 2013, Wednesday
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Print Edition
Print Edition
ROYAL Bank of Scotland Group is close to a 500-million-pound (US$785.32 million) settlement with US and British authorities over claims some of its employees submitted false Libor rates, the Wall Street Journal reported, citing people briefed on the negotiations.
The settlement would involve the British bank pleading guilty to criminal charges in addition to paying a penalty. However, RBS executives are resisting any guilty plea, the Journal said.
The deal is expected to close within two weeks.
RBS would be the third bank after Barclays Plc and UBS AG to settle allegations about false Libor rates.
The settlement would involve the British bank pleading guilty to criminal charges in addition to paying a penalty. However, RBS executives are resisting any guilty plea, the Journal said.
The deal is expected to close within two weeks.
RBS would be the third bank after Barclays Plc and UBS AG to settle allegations about false Libor rates.
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