LONDON – Royal Bank of Scotland will next week agree a collective settlement with U.S. and British authorities for its part in a global rate rigging scandal, sources familiar with the situation told Reuters.
The bank is expected to be fined between 400 and 500 million pounds ($793 million) for the attempted rigging of the London interbank offered rate (Libor) and other benchmark interest rates. Details of the punishments will be revealed on Tuesday or Wednesday, the sources said.
RBS and the FSA declined to comment.
(Reporting by Matt Scuffham and Huw Jones; Editing by Sinead Cruise)