URGENT ¥¥¥ RBS banks says to pay 'significant penalties' over Libor

Royal Bank of Scotland on Wednesday said it expected to pay "significant penalties" and face other sanctions from British and US financial regulators over its role in the Libor rate-rigging scandal.

"RBS confirms that it is in late-stage settlement discussions with these authorities," the Edinburgh-based bank said in a statement.

"Although the settlements remain to be agreed, RBS expects they will include the payment of significant penalties as well as certain other sanctions."