Company News

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Libor probe may further shrink RBS investment bank

Royal Bank of Scotland will face pressure to further shrink its investment bank should an investigation into interest rate rigging show cultural failings persist in the business, political and industry sources have said.

The part-nationalised bank is expected to be fined between 400 million and 500 million pounds for its role in the manipulation of the London interbank offered rate (Libor) and other global benchmark rates. . .

http://uk.reuters.com/article/2013/01/18/uk-rbs-libor-idUKBRE90H0S820130118