LONDON, Feb 6 (Reuters) - Royal Bank of Scotland will pay $615 million to U.S. and British authorities to settleallegations it manipulated key interest rate benchmarksincluding the London interbank offered rate (Libor).
The bank said on Wednesday John Hourican, head of RBS'sinvestment bank had agreed to leave following the misconduct ofstaff in that business.
Part state-owned RBS is the third bank to be punishedfollowing investigations into rate-fixing by authorities aroundthe world.
Switzerland's UBS agreed to pay $1.5 billion tosettle charges while Barclays paid approximately $450million.
Barclays (BARC)
