RBS Libor Settlement: Bank To Pay $612 Million To Settle Claims It Rigged Interest Rate

RBS To Pay $612 Million To Settle Libor Allegations
A picture shows the logo and sign of the Royal Bank of Scotland (RBS) outside a branch in central London on January 27, 2012. Britain's state-rescued Royal Bank of Scotland awarded its chief executive a bonus of 963,000 British pounds (1.50 million USD, 1.15 million euros) on January 26 despite pressure from the government to limit the payout. AFP PHOTO / CARL COURT (Photo credit should read CARL COURT/AFP/Getty Images)
A picture shows the logo and sign of the Royal Bank of Scotland (RBS) outside a branch in central London on January 27, 2012. Britain's state-rescued Royal Bank of Scotland awarded its chief executive a bonus of 963,000 British pounds (1.50 million USD, 1.15 million euros) on January 26 despite pressure from the government to limit the payout. AFP PHOTO / CARL COURT (Photo credit should read CARL COURT/AFP/Getty Images)

WASHINGTON (Reuters) - Britain's Royal Bank of Scotland Group Plc settled charges it had manipulated the Libor interest rate benchmark, the top U.S. derivatives regulator said, paying fines totaling $612 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 $325 million to the CFTC, $150 million to the U.S. Department of Justice, and 87.5 million pounds ($137.10 million) to the Financial Services Authority.

(Reporting by Douwe Miedema and Aruna Viswanatha; Editing by Gerald E. McCormick)

Before You Go

Barclays Begins Manipulating Libor Rate

Libor Scandal Timeline

Popular in the Community

Close

What's Hot