While the £290m fine slapped on Barclays has helped to distract from the computer meltdown at RBS, which prevented up to 13m customers accessing their accounts for up to a month, Stephen Hester, RBS’s chief executive, said the rate-rigging scandal was bad for the entire industry.

‘RBS is one of the banks tied up in Libor. We’ll have our day in that particular spotlight as well’, Hester said in an interview with the Guardian. He did not know the size of the RBS fine but said that the investigation by the Financial Services Authority was ‘in process’.