Britain's Royal Bank of Scotland will pay more than $ 800 million for fraud rate of LIBOR

One of the largest financial institutions VelikobritaniiRoyal Bank of Scotland will pay £ 500 million (more than 807 million dollars) in fines for manipulation of a key interbank rate LIBOR - London Interbank Offered Rates. This was reported today the newspaper "The Independent".
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According to information received from the publication in the British government sources, 100 million pounds of the bank will pay the Financial Services Authority of the United Kingdom. For at least 400 million pounds "Royal Bank of Scotland" seek the U.S. financial supervision. As the "Independent", the total amount of the fine may still grow, because the American side is not completely removed from the bank charges.

Investigating fraud management "Royal Bank of Scotland" has caused the UK wide publicity as the financial institution by 82 percent state-owned. The fact that four years to save it from bankruptcy by taxpayers spent 45 billion pounds $ 70 billion. Now, most of the fine must be paid in fact the British government, which has a policy of tough economy, reducing funding for social programs and "freezing" wages.

"We get a lot of negative feedback from the voters in view of the situation - said the" Independent "British member of parliament from the ruling Conservative Party, Andrea Leeds. - People want to know why, they first have to actually buy the bank and then get paid for their transgressions leaders. " "The British are very unhappy and demand answers," - she admitted.

The scandal over the manipulation of a key interbank rate erupted at the end of June 2012. As a result of the authorities of the U.S. and UK investigation revealed that during the global economic crisis, a number of major international banks have provided false data, which are determined based on LIBOR rates. This was done, in particular, in order to reduce the cost of their own borrowings. As a result, the British "Barclays" / Barclays / paid 453 million dollars in fines. And the Swiss UBS for a similar offense agreed to pay $ 1.5 billion regulatory authorities in the U.S., UK and Switzerland.

LIBOR based on a global scale are estimated interest rates on financial products to more than 550 trillion.