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LONDON (Reuters) - English financial institution RBS is prepared to be penalized over its part in the interest-rate rigging scandal that has rocked the market, Primary Executive Stephen Hester said in an appointment with The Protector paper. 

"RBS is one of the economical institutions linked up in Libor. We'll have our day in that particular highlight as well," Hester said in an appointment released on the newspaper's web page on Weekend.

Hester did not thoughts on the dimension any possible excellent but said that the research by Britain's economical regulator, the Financial Solutions Authority (FSA), was "in procedure." He confessed the romance had been harmful to all economical institutions.

"Even though when all the Libor (fines) are out most of it is going to be around the wrongdoings of a few individuals at a variety of economical institutions, those wrongdoings taint a whole market beyond the several individuals and that creates it a large problem."

New information from records and resources close to the Libor scandal research recommend that categories of investors operating at three significant European economical institutions, such as RBS, were intensely involved in rigging the prices.


RBS could not be achieved for further thoughts. trendsvd.blogspot.in