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Home / Business / The RBS Bank agrees to a $ 4.9 billion civilian fine to end the US probe

The RBS Bank agrees to a $ 4.9 billion civilian fine to end the US probe



  People pass the London headquarters of the Royal Bank of Scotland

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AFP

The Royal Bank of Scotland has a fine of $ 4.9 billion ($ 3.6 billion ) agreed with US regulators. (1

9659005) RBS boss Ross McEwan said the agreement in principle with the US Department of Justice (DoJ) was "a milestone".

Investigating the sale of RBS to financial products from 2005 to 2007 was a financial cloud over the bank.

The DoJ said further details need to be negotiated before a final deal is finalized.

Mr. McEwan said, "Today's announcement marks a milestone for the

" Achieving this fundamental agreement with the US Department of Justice, when completed, will allow us to deal with this significant remaining legacy and is the price we pay for the global ambitions of this bank before the crisis. "

He said that" removi's uncertainty "would mean that RBS, which was rescued by the British taxpayer in 2008, would make the bank much stronger.

RBS said that about $ 3.6 billion of punishment Many analysts had predicted that the settlement could amount to more than $ 4.9 billion.

The news that a deal is nearing completion is likely to trigger speculation as to when the government will wind up 71% stake in RBS could sell.

Chancellor Philip Hammond said last year he was reluctant to sell shares while the DoJ sample still needed to be resolved. [1965]
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