The Royal Bank of Scotland expects to be fined for its role in the Libor rigging scandal, its chief executive has said.
Stephen Hester said the state-backed lender was in the process of being investigated by the Financial Services Authority over its role in attempting to manipulate the benchmark borrowing rate - a scandal that saw a number of executives resign including Barclays boss Bob Diamond.
Mr Hester told The Guardian:"RBS is one of the banks tied-up in Libor.We'll have our day in that particular spotlight as well".
He added: "Even though when all the Libor (fines) are out most of it is going to be around the wrongdoings of a handful of people at a number of banks. Those wrongdoings taint the whole industry beyond the handful of people and that makes it a huge problem."