RBS to be hit by multi-billion-pound charge for mis-selling mortgage-backed securities
RBS is set to be hit by a new multi-billion-pound charge for mis-selling mortgage-backed securities.
A formal statement confirming the charge could come as soon as today with RBS directors expected to discuss the move in a board meeting this week.
The charge could be between $3bn (£2.4bn) and $4bn, sources told Sky News last night.
The state-owned bank has reportedly set billions of dollars aside to settle a fine with the US Department of Justice (DoJ).
Read more: US fine will let RBS turn page on a horror decade
The head of UK Financial Investments (UKFI), which looks after the taxpayer's stake in the bank, told MPs last year that it could be anything up to $12bn.
Last month, the DoJ sued Barclays and two of its executives over alleged fraud issuing mortgage-backed securities during the 2008-2009 financial crisis.
Meanwhile, Deutsche Bank and Credit Suisse reached a $7.2bn and $5.28bn settlement respectively as part of the same probe.