More banks besides Royal Bank of Scotland (RBS) are expected to be fined for manipulating the London interbank offered rate, Reuters reported Thursday, citing sources familiar with a bilateral investigation.

Regulators in the U.S. and U.K. are expected by midyear to penalize other financial institutions that allegedly conspired to rig the Libor, a benchmark that determines the price at which banks lend to one another, the report said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.