RBS close to 350 mln stg Libor settlement - paper

LONDON Sun Dec 16, 2012 6:12am EST

LONDON Dec 16 (Reuters) - Royal Bank of Scotland is braced for a penalty of more than 350 million pounds ($564 million) for its role in a global interest rate rigging scandal, the Sunday Times newspaper reported, without citing sources.

The British newspaper said part state-owned RBS is nearing a deal with regulators in Europe and North America over its part in the Libor interest rate rigging scandal, and is expected to agree a settlement early next month.

RBS declined to comment.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.