European banks pay heavy price for scandals

(Reuters) - Four European banks paid a heavy price on Tuesday in a clean-up of the financial industry, with Rabobank fined $1 billion and three other major lenders preparing for possibly huge legal costs after a string of scandals.

Five U.K. Banks Must Raise Extra $21 Billion Capital

Five U.K. banks must find 13.4 billion pounds ($21 billion) to plug a 27.1 billion-pound capital shortfall by the end of the year, the Bank of England said.

U.K. Banks Seen Avoiding Share Sales After BOE Capital Review

U.K. banks including Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc (LLOY) may avoid the need to sell new shares to bolster their balance sheets after the Bank of England used more lenient rules than those advocated by European regulators.