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The Royal Bank of Scotland Group plc (RBS)

  • Feb. 6, 2013, 3:45 AM
    RBS (RBS) expects to pay "significant penalties" and suffer "other sanctions" in a settlement with British and American authorities over its manipulation of Libor rates. The sides are in "late-state" talks, although the "settlements remain to be agreed." Media reports say RBS will have to pay $500M. Shares +1% in London. (PR)
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  • Feb. 5, 2013, 1:27 PM
    More on the RBS libor-settlement: The bank will plead guilty to rate-rigging, but no employees are expected to be criminally charged. Separately, investment bank chief John Hourican - brought in to rescue the business in 2008 - is stepping down without any severance, and reportedly will give up £4M in past stock bonus awards.
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  • Feb. 5, 2013, 1:19 PM
    RBS is expected to announce a £500M Libor rate-rigging settlement on Wednesday. (WSJ)
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  • Feb. 3, 2013, 2:59 AM
    RBS (RBS) is reportedly nearing an agreement with U.K. and U.S. regulators to pay £500-600M to settle allegations that it manipulated inter-bank interest rates, with an announcement possible on Tuesday. The sides are still negotiating key details, including whether RBS will admit a criminal charge. U.K. finmin George Osborne wants the bank to pay any penalties out of its bonus pool.
  • Jan. 31, 2013, 5:33 AM
    Barclays (BCS), HSBC (HBC), Lloyds (LYG) and RBS (RBS) may have to pay small-business customers hundreds of millions of pounds in compensation over the mis-selling of products that were supposed to lower their clients' interest-rate risks. The FSA has ordered the banks to review the sales after the U.K. regulator found that banks breached rules in over 90% of 173 deals that it looked at. Barclays has already provisioned £450M for the purpose.
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  • Jan. 30, 2013, 7:52 AM
    Unable to find a buyer for its M&A business, RBS is winding the unit - which raked in $426M in fees 6 years ago - down. The firm - mostly state-owned - a year ago abandoned plans to become a player in investment banking, and instead is focused on being the best bank it can be.
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  • Jan. 29, 2013, 11:52 AM
    As part of a settlement in the Libor-rigging case, the U.S. wants a RBS unit to plead guilty to criminal charges in addition to a hefty fine, according to sources. RBS execs are worried a guilty plea could cost it business, but U.S. regulators note a UBS unit pled guilty to similar charges in December with nary a market reaction.
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  • Jan. 29, 2013, 9:10 AM
    Premarket gainers: KERX +18%. PLXT +10%. VLO +8%. OPK +7%. HES +7%. RPRX +6%. AKS +6%.
    Losers: OXF -24%. ANAC -23%. VMW -19%. LXK -6%. RBS -6%. STX -6%. EDU -5%.
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  • Jan. 18, 2013, 8:14 AM
    Admitting the government overpaid when rescuing Lloyds (LYG) and RBS in 2008, the BOE warns the two banks still need to raise a substantial amount of capital by March. The banks are trying to sell assets or cut back investment banking operations as opposed to requesting more government funds. At this point U.K taxpayers are sitting on losses on the government investment as opposed to the profits booked by the U.S. Treasury.
  • Jan. 15, 2013, 2:54 AM
    RBS (RBS) will reportedly have to pay up to £500M to settle charges that it tried to manipulate inter-bank interest rates such as Libor. As part of an "accountability probe," the bank may also fire two senior executives, and it intends to claw back payments to those involved in the alleged rigging and slash its bonus pool. The fine will add to the $1.5B and £290M that UBS and Barclays respectively have agreed to pay.
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  • Jan. 7, 2013, 4:56 PM
    Apollo Global (APO) and J.C. Flowers have reportedly teamed up to bid as much as €1B on 316 RBS branches which were recently put back on the market after Banco Santander pulled out of an agreement to buy them. Flowers exec and former Westpac chief David Morgan has reportedly already been lined up to run the business.
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  • Jan. 7, 2013, 4:04 AM
    Credit Agricole (CRARF.PK) leads major European banks higher, rising 4.7% after regulators ease Basel liquidity rules, followed by Deutsche Bank (DB) +4.3%, Unicredit (UNCFY.OB) +4.3% and Barclays (BCS) +3.7%. Also, SocGen (SCGLF.PK) +3.4%, HSBC (HBC) +0.75%, Lloyds (LYG) +1.9%, Santander (SAN) +2%, RBS (RBS) +1.5%, UBS (UBS) +2% and Credit Suisse (CS) +3.4%. Italy's Banca Monte dei Paschi di Siena (BMDPY.PK) +15%.
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  • Jan. 3, 2013, 5:36 AM
    British banks intend to increase loans to companies and consumers after having already provided more mortgages in Q4, a Bank of England survey has found. The government will no doubt be happy given that banks cited its funding-for-lending scheme, which offers banks cheap loans for re-lending to businesses and individuals, as a major factor in the increased availability of credit.
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  • Dec. 19, 2012, 7:10 AM
    Following a 5-month 43% move higher in the EUFN, the European financial sector is upgraded to Neutral from Sell at Credit Suisse. Earlier this week, Meredith Whitney turned bull on the U.S. financial sector after its torrid 2012 run.
  • Dec. 17, 2012, 4:54 AM
    RBS (RBS) is reportedly close to agreeing a deal with European and North American regulators to pay £350M to settle allegations that it rigged inter-bank interest rates such as Libor. That's above the £290M that Barclays agreed to pay but below the $1.6B penalty that UBS is reportedly negotiating.
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  • Dec. 17, 2012, 4:44 AM
    The U.K.'s Parliamentary Commission on Banking Standards is expected to call for banks to be broken up rather than just forcing them to ring-fence their retail operations from their investment banking activities, as recommended in the Vickers Report. The Commission will makes its call in its own report, which is due to be released on Friday.
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Company Description
Royal Bank of Scotland Group (The) PLC is an international banking and financial services company. The Company through its subsidiaries provides banking products and services to personal, commercial and large corporate and institutional customers.
Sector: Financial