RBS fights court order to reveal LIBOR records

clock

The Royal Bank of Scotland (RBS) is to challenge a court order requiring it to co-operate with an international criminal investigation into rate-fixing.

According to a report in the Telegraph, part-nationalised bank RBS - one of a number of banks under investigation for potentially fixing the LIBOR rate - is battling a court ruling to hand over confidential internal documents. The documents could show its traders were also involved in the manipulation of the inter-bank lending rate, the Telegraph said. The revelation comes just a week after Barclays' chief executive Bob Diamond was forced to resign over the scandal. Barclays was fined £290m by UK and US regulators for manipulating the LIBOR rate in order to make extra profit. It...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read