The Straits Times
www.straitstimes.com
Published on Feb 06, 2013
 

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

 
 

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.