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Libor pain looming over Royal Bank of Scotland

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Royal Bank of Scotland is bracing itself for yet another wave of woe. It is anticipating an enormous Libor fine within the next fortnight, dwarfing the £290m punishment visited on Barclays. By all accounts, the supporting documents to be produced by the regulators, detailing the misdeeds of its traders, will make for even more lurid reading. RBS will want to avoid a repeat of the revolving-door farce at Barclays, where chairman Marcus Agius had no sooner made an attempt at an honourable resignation in order to preserve Bob Diamond’s job, than the latter was turfed out anyway.

 

Read more: http://www.dailymail.co.uk/money/markets/article-2264676/RUTH-SUNDERLAND-Libor-pain-looming-RBS.html#ixzz2IWNG69Ou


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