RBS's (RBS) Libor fine will be £400M ($627M), Reuters reports, which is higher than the $500M...

|By:, SA News Editor

RBS's (RBS) Libor fine will be £400M ($627M), Reuters reports, which is higher than the $500M that the WSJ speculated yesterday, with the full details due to be announced later today. All RBS says is that it will pay "significant penalties," with CEO Stephen Hester warning of a "miserable day." Meanwhile, U.K. Business Secretary Vince Cable has revived a proposal to privatize the government's 82% stake in RBS by giving its shares away free to the public.