News Headline Summary

Sky News Mark Kleinman reports that "RBS (RBS LN) and FSA wrangling over scale of bank's Libor-rigging fine. Regulator has proposed penalty in region of GBP 150mln according to sources"

- Royal Bank of Scotland (RBS) is wrangling with the City regulator over the scale of its culpability in the Libor interest rate-rigging scandal amid fears that a settlement will leave the bank exposed to massive civil litigation.
- I have learned that negotiations between lawyers acting for RBS and officials at the Financial Services Authority (FSA) have reached an impasse over efforts by the regulator to suggest that RBS employees acted as ring-leaders in an international conspiracy to manipulate benchmark rates.

Reaction details (11:59)

- RBS shares currently trade down 0.8% at GBP 2.999 last; unmoved by this latest report.

17 Dec 2012 - 11:57 - Equities - Source: Sky News/Mark Kleinman

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