One of the final fines for banks involved inside financial crisis looks to be nearing resolution.
High-level talks involving the U.K. Treasury as well as U.S. Justice Department earlier This particular week aimed to resolve a penalty for Royal Bank of Scotland, amid questions about the way that will sold bonds called residential mortgage-backed securities, according to a Sky News report. RMBS bundled home loans that will crumbled under a wave of defaults, as well as helped set off the crisis.
The report indicates that will U.S. officials wish to possess the matter settled within weeks. RBS faces a fine that will could exceed $7 billion, or 5 billion British pounds.
A settlement had been delayed due to a DoJ staffing shortage after President Donald Trump took office, according to the report.
RBS has $3.3 billion set aside for the settlement, which is actually one of the last legs in allowing the bank to resume paying shareholders a dividend. Banks inside U.S. as well as Europe have paid out more than $150 billion in fines associated with the crisis.
RBS officials did not immediately respond to a request for comment. A spokesman at the U.K. Treasury declined comment, while no one could be reached at the DoJ.
Read the full SkyNews report here.