According to a report in the Wall Street Journal, US authorities were pushing for a settlement of allegations that would also result in an RBS division pleading guilty to criminal charges
The Wall Street Journal, citing people briefed on negotiations, added that US authorities were pushing for a settlement of allegations that would result also in an RBS division pleading guilty to criminal charges.
The newspaper said that the deal could be completed within the next fortnight and added that RBS was resisting any guilty plea amid fears it would lose clients and spark costly litigation.
A spokesman for the state-rescued bank would not be drawn on the article, simply saying: "Discussions with various authorities in relation to Libor setting are ongoing.
"We continue to co-operate fully with their investigations," he added in a statement.
Investors meanwhile took flight at Tuesday's development.
RBS shares sank 5.98% to finish at 345.80 pence on
The Edinburgh-based lender is 82% owned by the British government after a vast bailout during the global financial crisis.
The Libor affair erupted in June 2012 when Barclays bank was fined 290 million pond by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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