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RBS to pay $4.75bn in RMBS settlement

Bulk of the UK bank's bill from the Federal Housing Finance Agency covered by existing provisions

RBS to pay $4.75bn in RMBS settlement
Photo: Ben Phillips

Royal Bank of Scotland has reached a settlement with the US Federal Housing Finance Agency over residential mortgage-backed securities claims that will see the UK bank pay $4.75bn.

The bank said in a statement today it will pay $5.5bn, of which $754m will be reimbursed to it under third-party indemnification agreements.

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