RBS pays $99.5m to settle claims

The Royal Bank of Scotland agreed yesterday to pay $99.5m (£58.7m) to resolve claims against the bank over Freddie Mac’s purchase between 2005 and 2007 of mortgage-backed securities that went sour. The US Federal Housing Finance Agency said it had now reached 15 settlements, totalling about $16.1bn, stemming from lawsuits it filed in 2011 to recoup losses on roughly $200bn of mortgage-backed securities purchased by Freddie Mac and Fannie Mae.