Five banks have been fined €1.07bn (£935m) by the European Commission after traders clubbed together to rig the foreign exchange market. Four banks in the “Banana Split” cartel - Barclays, RBS, Citigroup and JP Morgan - were fined €811m in all.
The Royal Bank of Scotland has applied for a German banking license to help it retain clients in the European Union in the event of a no-deal Brexit. The move applies to all its subsidiaries, but would only affect NatWest, which trades across the bloc.