RBS takes £3.1B hit over RMBS scandal

• Likely pushing it to its ninth consecutive annual loss, Royal Bank of Scotland (NYSE:RBS) is taking a £3.1B hit to cover the cost of a toxic bond mis-selling scandal in the U.S.
• "Putting our legacy litigation issues behind us remains a key part of our strategy," RBS said in a statement.
• The bailed-out bank has already incurred £50B of cumulative annual losses since taxpayers pumped in £45B to keep it afloat.
• RBS +3.1% premarket