RBS censured by Australian watchdog

21st Jul 2014 13:48

Royal Bank of Scotland (RBS) attempted to influence daily inter-bank lending rate setting in Australia, the country's watchdog has found. The Australian Securities and Investment Commission (ASIC) said that it had made inquiries in 2012, to which RBS responded with an internal review, which indicated that traders had tried to alter the setting of the Australian Bank Bill Swap Rate. The bank is the third to have been censured by the securities regulator, following BNP Paribas in January and UBS in December. RBS said it would make a donation of £877,000 to improve financial literacy. Shares had fallen 0.21% to 318.52p by 14:02.NR