RBS fights to keep LIBOR records secret

The Royal Bank of Scotland (RBS) is fighting against a court order which requires it to co-operate with an international criminal investigation into rate-fixing.

According to a report in the Telegraph, part-nationalised bank RBS - one of a number of banks under investigation for potentially fixing the LIBOR rate - is battling a court ruling to hand over confidential internal documents. The documents could show its traders were also involved in the manipulation of the inter-bank lending rate, the Telegraph said. The revelation comes just a week after Barclays' chief executive Bob Diamond was forced to resign over the scandal. Barclays was fined £290m by UK and US regulators for manipulating the LIBOR rate in order to make extra profit. It...