RBS Libor Settlement Faces Delays

Rain's picture

Huff Post - Matt Scuffham and Steve Slater, 10/5/12

* Deal now unlikely until late 2012/early 2013 - sources

* Regulators at different stages of investigation - sources

* Bank had hoped for settlement in early Q4 - sources

Rbs Libor Settlement

LONDON, Oct 5 (Reuters) - Royal Bank of Scotland faces a delay in reaching a settlement over its role in the Libor interest rate rigging scandal because of difficulties agreeing a deal wi t h all the regulators involved, finance industry sources said.

The British bank is eager to draw a line under the affair and refocus attention on its recovery. The bank was partly nationalised during the financial crisis in a 45 billion pound rescue by the UK government.

To read the rest of this story, visit HuffingtonPost.com.



Steal by fraud how much?

Guest's picture

Steal by fraud how much? Trillions, Billions!  Get fined Millions and no one goes to jail. Who receives the fine money? The people and business that were cheated or government or Federal Reserve? If the fine goes to the Federal Reserve they give it right back to the banks in bailouts and low interest rates. Libor has been exposed but my loan rate has not changed. How much did Diamond get when he left? Where will he work next? Appointed to the Federal Reserve or to the Office of Finance or other type position? Business as usual, no change.

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