Regulators leading the world-wide probe into rate-rigging allegations are expected to announce Wednesday a settlement of around £400 million ($630 million) with Royal Bank of Scotland Group PLC, the Wall Street Journal reported today. Banks across the world face a hefty bill for alleged attempts to manipulate Libor. More than a dozen banks remain under investigation and civil lawsuits are under way. The expected pact will make RBS the third giant global bank to agree to a deal with the U.S. Justice Department, Commodity Futures Trading Commission and the U.K. Financial Services Authority. Following settlements last year with Barclays PLC and UBS AG, regulators will have won penalties in the rate-rigging probe totaling more than $2.5 billion.
