GFP Note: RBS stands for Royal Bank of Scotland.
Telegraph.co.uk
By Angela Monaghan, and Harry Wilson
6:45AM BST 30 Jul 2012
The man charged by the Government with conducting an independent review into the Libor rigging scandal, which has already cost Barclays £290m in fines, will on Monday outline the scale of the inquiry.
Martin Wheatley, head of financial conduct at the Financial Services Authority, is expected to announce the “terms of reference” of the review, designed to clamp down on manipulation of the interbank lending rate.
The Government has been keen to show its commitment to respond swiftly to the scandal, and Mr Wheatley will report back by the end of the summer. It was reported on Sunday night that RBS is expected to follow Barclays and be hit with potentially large fines over Libor rigging.
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