RBS to face Libor involvement grilling

  • British bank RBS is to be questioned over the extent of its involvement in the Libor rate rigging scandal when it publishes first half results today.

    Fresh details from court documents and sources suggest that traders working at three major European banks, including RBS, were involved in rigging the global benchmark interest rate.

    On Sunday, RBS Chief Executive Stephen Hester admitted that the bank was likely to be punished over its role in the matter.

    Last month, rival Barclays was fined $453 million by U.S. and UK regulators.