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A sign in need of repair is seen outside a branch of the Royal Bank of Scotland (RBS) in the City of London February 4, 2013. Photograph taken on February 4, 2013. Royal Bank of Scotland will be punished on Wednesday for its role in a global interest rate rigging scandal, with fines of between 400-500 million pounds ($783 million) expected. The part-nationalised bank will be fined by authorities in Britain and the United States for the attempted manipulation of the London interbank offered rate (Libor) and other key benchmark rates.
A sign in need of repair is seen outside a branch of the Royal Bank of Scotland (RBS) in the City of London February 4, 2013. Photograph taken on February 4, 2013. Royal Bank of Scotland will be punished on Wednesday for its role in a global interest rate rigging scandal, with fines of between 400-500 million pounds ($783 million) expected. The part-nationalised bank will be fined by authorities in Britain and the United States for the attempted manipulation of the London interbank offered rate (Libor) and other key benchmark rates.
(Andrew Winning/Reuters)

BREAKINGVIEWS

With Libor fine, U.K. government inches towards freedom from RBS

GEORGE HAY – LONDON

 — Reuters Breakingviews

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Royal Bank of Scotland is inching away from the Libor danger zone. The U.K. bank is likely to pay about £400-million ($625-million) for its role in fixing the interbank rate, higher than Barclays’ £290 million but much less than UBS’s fine of almost £1-billion. It’s a big deal, but less serious than it could have been.