Traders 'suspended for fixing' at RBS and Barclays

City traders are understood to have been suspended at Royal Bank of Scotland and Barclays in connection with the possible fixing of currency markets, and uncovered as part of a global investigation.

Reports suggest RBS yesterday put two of its traders on suspension while Barclays has suspended as many as six foreign exchange traders as part of the investigation involving regulators in the UK and worldwide.

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RBS avoids 'bad bank' split

Royal Bank of Scotland today reported a sharp fall in operating profits to £438 million for the third quarter, from £909 million a year earlier. The bank is also to create an internal 'bad bank' with £38bn of problem assets, avoiding a full split.