Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said. The resolution comes as RBS prepares to settle a number of U.S. cases where it is accused of mis-selling mortgage-backed bonds and brings the U.S. regulator's recoveries against various banks to $4.3 billion over their sales of such securities before the 2008 financial crisis. This case is included in the around $5 billion RBS has set aside to settle historic misconduct charges, but some analysts estimate the total claims will be much larger.
A bakery and major hospital were hit in bombardments of rebel-held eastern Aleppo early on Wednesday, residents said, as Syrian government forces pressed their Russian-backed campaign to retake the whole city. "The warplane flew over us and directly started dropping its missiles on this hospital...at around 4 a.m.," Mohammad Abu Rajab, a radiologist at the largest trauma hospital in the city's rebel-held sector, told Reuters. A bakery in another rebel-held district was hit around 3 a.m., as people lined up to collect bread, residents said.