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RBS to pay $757 million in Libor fines to US, UK

Published on Feb 6, 2013 9:28 PM
 
In this file picture taken on Feb 24, 2011, people walk past a Royal Bank of Scotland (RBS) sign in central London. RBS has settled charges it had manipulated the Libor interest rate benchmark, the top US derivatives regulator said, paying fines totalling US$612 million (S$757 million) to three regulators in the UK and the United States. -- PHOTO: AFP

WASHINGTON (REUTERS) - Britain's Royal Bank of Scotland has settled charges it had manipulated the Libor interest rate benchmark, the top US derivatives regulator said, paying fines totalling US$612 million (S$757 million) to three regulators in the UK and the United States.

The bank neither admitted nor denied its findings, the Commodity Futures Trading Commission (CFTC) said, but a unit in Japan agreed to plead guilty to a criminal charge of wire fraud.

The bank will pay US$325 million to the CFTC, US$150 million to the US Department of Justice, and 87.5 million pounds to the Financial Services Authority.