Regulators in the US and UK are expected to announce a series of expensive and potentially explosive actions against banks including HSBC, Standard Chartered and RBS. Banks are braced for a wave of fines and other penalties for breaching money laundering rules, busting sanctions and attempting to manipulate Libor over the coming two weeks. Regulators in the US and UK are expected to announce a series of expensive and potentially explosive actions against banks including HSBC, Standard Chartered and Royal Bank of Scotland. With Standard Chartered admitting it expects to hand over a total of $670m (£415m) to US regulators "very soon" and HSBC preparing the ground for fines of at least £900m for offences in the US, several other banks are also preparing to be hit by a wave of multimillion-pound penalties.

RBS is thought to be braced for the possibility that its fine for Libor rigging could come before Christmas. Stephen Hester, chief executive of the bailed out bank, has made clear he hopes to have settled the issue before the bank reports its results in February. Hester said last month that the bank was preparing to enter talks to settle Libor-rigging claims and that it will be a "miserable day in RBS's history". An RBS spokesman declined to comment further.....Read more here: Banks braced for hefty fines over rule breaches