RBS: pays a fine in the US.
(CercleFinance.com) - Royal Bank of Scotland (RBS) has reached an agreement with the US regulator FHFA (Federal Housing Finance Agency) to resolve its claims, we learnt this Wednesday.
In exchange for the regulator ceasing its legal action, which accused the Scottish bank of deceit when selling mortgage-backed securities before the financial crisis, it has paid 5.5 billion dollars.
RBS was saved from bankruptcy by the British State, which nationalised it during the financial crisis and intends to gradually withdraw from the group's capital. RBS was reassuring, certifying that this payment was already largely covered by provisions.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
In exchange for the regulator ceasing its legal action, which accused the Scottish bank of deceit when selling mortgage-backed securities before the financial crisis, it has paid 5.5 billion dollars.
RBS was saved from bankruptcy by the British State, which nationalised it during the financial crisis and intends to gradually withdraw from the group's capital. RBS was reassuring, certifying that this payment was already largely covered by provisions.
Copyright (c) 2017 CercleFinance.com. All rights reserved.