LONDON: Four traders from the Royal Bank of Scotland were sacked at the end of 2011 for their role in fixing inter-bank interest rates, sources said Sunday.
The revelation comes after the state-rescued RBS confirmed it was being investigated for manipulating the rates at which banks lend to each other.
RBS, which is 82-percent owned by the government, declined to comment when contacted by AFP.
Britain will hold a review into the setting of benchmark inter-bank interest rates and seek to criminalize rate-fixing, the Treasury finance ministry said Saturday, following a scandal at major lender Barclays.
The independent review aims to restore trust in Libor, a key benchmark reference rate that influences a swathe of other borrowing costs, after Barclays was hit with a record fine for attempted manipulation.
Four RBS traders sacked for fixing bank rate
Four RBS traders sacked for fixing bank rate
