RBS takes extra RMBS provision but end not in sight
Royal Bank of Scotland announced on Thursday it was taking an extra $3.8bn provision related to its conduct in US RMBS underwriting, taking its total provision for that area up to $8.3bn. But it emphasised that it wasn’t in negotiation with the US Department of Justice over the settlement, and there could be much more to come.
The bank has been linked in the press to a possible settlement of up to $12bn, a figure which would be well above the recent Credit Suisse and Deutsche Bank settlements with the DoJ.Deutsche paid $3.1bn in cash, and $4.1bn in consumer relief, while Credit Suisse paid ...
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