RBS hit with £390m Libor fine

[Martin@AS Financial]

RBS hit with £390m Libor fine | News | Mortgage Strategy

The Parliamentry Commission on Banking Standards is set to take evidence from the chairman - Sir Philip Hampton and the chief executive - Stephen Hester and will decide the future of RBS.

As over 80% of RBS is owned by the state, the good news is that George Osborne has confirmed that the fine will not be paid by the taxpayer.

[MyUserName]

So will banks need to update their systems to deal with some new strict government rules?

I hope so - keerrrrrching!!!!

[minestrone]

390m is probably nothing considering what they probably made.

Next up is? I would assume they will be getting quite a few more. ( probably client co )