Daily Mail reports RBS facing prospect of 500m pound fine

16th Jan 2013 08:25

The Daily Mail's online incarnation, the Mail Online, has reported rumours that the Royal Bank of Scotland may be facing the prospect of a 500m pound fine over its alleged role in the LIBOR interest-rate rigging scandal.The news agency suggests that the bank is in talks with watchdogs in the UK and US and predicts that details of the settlement possibly announced next week. Citing unnamed sources who it claimed were "familiar with the situation", the news website said they expected the fine could fall within the "ballpark" range of £400-to-£500m.The news comes just weeks after UBS was forced to pay £930m in December and Barclays announced it would pay a £290m settlement. Noone was available to comment at RBS when ShareCast contacted the press team.MF