RBS gives up fight on giving Canada Libor documents

Fri May 31, 2013 4:26pm EDT
 
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OTTAWA May 31 (Reuters) - The Royal Bank of Scotland Group abandoned on Friday its high-profile fight against turning over to Canada a load of documents for an investigation into whether it helped manipulate global interest rates, Canada's Competition Bureau said.

It marked the end of a public battle between RBS and the Competition Bureau, which is investigating whether the British bank and several others colluded in settling the yen London interbank offered rate (yen Libor).

"The abandonment comes approximately 18 months after the launch of the challenge and will allow the bureau to move forward with its investigation of alleged collusive conduct into the setting of Yen Libor rates," the bureau stated.