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RBS Gains After $3.8 Billion Charge Tied to U.S. Mortgage Probe

  • Bank says timing of settlement with DOJ still uncertain
  • Fourth-quarter charge will reduce lender’s key capital ratio
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RBS to Take $3.8B Charge, Barclays Picks Dublin as EU Hub

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Royal Bank of Scotland Group Plc rose the most in two months in London trading after the bank took a 3.1 billion-pound ($3.8 billion) charge in a step toward resolving a U.S. probe into sales of mortgage securities.

The lender is continuing to cooperate with the U.S. Department of Justice on its investigation, though timing of a settlement remains uncertain, the Edinburgh-based bank said on Thursday. RBS has now taken 6.7 billion pounds of provisions related to as many as 15 mortgage investigations and lawsuits, and said it may face further charges.