RBS fine fears weigh on share sale

RBS fine fears weigh on share sale

Concerns RBS may be fined between $5bn (£4bn) and $12bn in the US are preventing the government from selling shares in the bank, MPs have heard.
RBS faces a settlement with the US Justice Department over claims it mis-sold toxic mortgage securities in the run-up to the financial crisis of 2008.
The size of that fine is weighing on the value of the bank, said James Leigh-Pemberton, the head of the body that manages the public's stake in RBS.
RBS was unavailable for comment.
Mr Leigh-Pemberton, the chairman of UK Financial Investments, told MPs that financial markets had speculated on the... read more

16 November 2016 in Regional, Views: 50
Source: BBC

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