RBS Confirms $3.8 Billion DoJ Provision; Will Take Hit in Full-Year Earnings

RBS will book a 3.1 billion provision linked to DoJ investigations into the sale and underwriting of mortgage-backed securities in the run-up to the global financial crisis. The Royal Bank of Scotland said Thursday that it will book a A 3.1 billion provision in advance of a settlelment with the U.S. Department of Justice linked to the sale and underwriting of mortgage-backed securities in the run-up to the global financial crisis.