Royal Bank of Scotland has detailed the “material impact” of “conduct issues” as part of its 2012 annual figures, these include:
- A £450 million charge in relation to Payment Protection Insurance (PPI)
- RBS provided £50 million over structured collar products
- A further charge of £650 million over interest rate hedging products
Penalties of £381 million will be paid for Libor and other trading rates following an agreement with the Financial Services Authority earlier this month.