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RBS faces heavy Libor fines

RBS faces heavy Libor fines
The Royal Bank of Scotland is reported to be facing heavy penalties over attempts to fix the Libor rate.

The BBC reports that onging talks with UK and US regulators include "other necessary remediation, including a possible senior resignation".

The fines are expected to run to several hundred million pounds, more than the £290m Libor penalty paid by Barclays in 2012.

RBS traders stand accused of trying to manipulate the Libor interest-rate benchmarks for dollars, Swiss francs and yen.

Green Box: RBS faces heavy Libor finesClick to open

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