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RBS in £3.5B settlement talks; Deutsche to pay $170M fine; LSE head's warning

* RBS is in advanced talks with the U.S. Federal Housing Finance Agency over a £3.5 billion settlement.

* Deutsche Bank agreed to pay $170 million to settle a lawsuit related to alleged Euribor manipulation.

* London Stock Exchange Group CEO Xavier Rolet warned against moving the clearing of euro-denominated trades away from London.

* Under the European Commission's draft proposal, set to be unveiled today, "systemic" clearing houses could be forced to shift their euro-clearing businesses from London to the EU after Brexit and could be required to accept EU oversight, the Financial Times wrote. The Paris-based European Securities and Markets Authority would be given a more direct supervisory role for clearing houses within the EU. Bloomberg News also covered.

* London Stock Exchange Group Plc CEO Xavier Rolet warned that moving the clearing of euro-denominated trades away from London to the EU after Brexit would create an "illiquid rump" market that costs clients more, Reuters reported. The International Swaps and Derivatives Association also said that relocation would require banks to set aside up to 20% more in initial margin or cash to protect trades against defaults, according to a separate Reuters report.

* Germany will apply to host the London-based European Banking Authority and the European Medicines Agency after Britain leaves the EU, Reuters reported, citing a government spokesman. Applications to host the regulators are due by July 31, with voting due to take place in October.

* No final Basel III deal is expected to be agreed upon this week at a Basel Committee on Banking Supervision meeting set to take place in Sweden tomorrow and Thursday, as France is unhappy with the proposed bank capital rules, insiders told Reuters. France is backed by Germany and the Netherlands.

UK AND IRELAND

* Royal Bank of Scotland Group Plc is said to be in advanced talks with the U.S. Federal Housing Finance Agency regarding a settlement worth more than £3.5 billion over the mis-selling of toxic mortgage bonds, an insider told Sky News. Both sides hope to announce a settlement deal within weeks.

* David Davis, the U.K.'s secretary of state for exiting the EU, indicated that formal Brexit negotiations with the bloc may not begin as planned next Monday, but noted that it would be "in the week of next week," Sky News reported.

* Ireland intends to raise as much as €3.3 billion, excluding the overallotment option, when it sells its 25% stake in Allied Irish Banks Plc. The Department of Finance has set the expected IPO price range at between €3.90 and €4.90 per share, giving AIB a market capitalization of between €10.6 billion and €13.3 billion. The final price is set to be announced on or around June 23. Reuters and Bloomberg News had reports.

* A group comprising Bermuda-based Qatar Reinsurance Co. Ltd. and U.S.-based investment firm Centerbridge has tabled a bid for British car insurer Sabre, Sky News reported. The group is competing with buyout firm Warburg Pincus to acquire Sabre from owner BC Partners, which is also working on alternative plans to list the company.

* Independent insurance and reinsurance legacy specialist Compre Group agreed to acquire Ireland-based Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. The acquisition marks Compre's first in Ireland.

GERMANY, SWITZERLAND AND AUSTRIA

* Deutsche Bank AG has agreed to pay $170 million to settle an investor lawsuit claiming it conspired with other banks to manipulate the benchmark European Interbank Offered Rate and related derivatives, Reuters reported. The lender on Monday filed a preliminary settlement with the U.S. District Court in Manhattan.

FRANCE AND BENELUX

* The Dutch state has sold off 25 million shares in ASR Nederland NV a year after it floated the insurer on the stock market, De Telegraaf reported, thereby reducing its shareholding to 20.9% from 36.8%.

SPAIN AND PORTUGAL

* Shares in Liberbank SA rebounded by more than 20% after Spanish stock market regulator Comisión Nacional del Mercado de Valores, or CNMV, prohibited short-selling on the bank's stocks for a month until July 12, Reuters reported.

* Banco Santander SA has singled out €7.5 billion in bad Banco Popular Español SA real estate assets that it intends to sell off quickly, insiders told Cinco Días.

ITALY AND GREECE

* The ECB has asked Banca Carige SpA to approve by June 23 its financial plan, which includes the sale of nonperforming loans and a capital strengthening of €600 million, which could reach €800 million, all dailies including MF reported, noting that chief lending officer Gabriele Delmonte is in pole position to become the bank's new CEO. Meanwhile, three members of Banca Carige's board, Claudio Calabi, Alberto Mocchi and Maurizia Squinzi, have stepped down with immediate effect due to a disagreement over the no-confidence vote against CEO Guido Bastianini, Reuters reported.

* The EU Competition commission and the board of the single supervisory mechanism will re-examine the plans of Banca Popolare di Vicenza SpA and Veneto Banca SpA, Il Sole 24 Ore wrote, noting that UniCredit SpA and Intesa Sanpaolo SpA have set conditions to take part in the rescue of the ailing lenders.

NORDIC COUNTRIES

* A Danish investor group including Nykredit A/S, Maj Invest, Arbejdernes Landsbank A/S, Foreningen AP Pension f.m.b.a., Novo A/S, ISP Pension and Vestjylland Forsikring presented a voluntary offer to acquire all shares in Vestjysk Bank A/S, which was conditionally accepted by Denmark's ministry of finance, Berlingske Tidende reported. The group offered 123 million kroner for the Danish state's 81.47% stake in the lender. After the offer is completed, the bank will launch an equity capital increase, open to all shareholders, for 745 million kroner.

* SPAREBANK 1 ØSTLANDET completed the bookbuilding for its IPO, which it priced at 78 Norwegian kroner per equity capital certificate, valuing the bank's equity certificate capital at about 8.4 billion kroner.

* A Danish court has cleared Amagerbanken A/S' former directors and senior management of any financial liability for the bank's collapse in 2011, Børsen wrote.

* Johan Prom will step down as CEO of Stockholm-based online stock broker Avanza Bank Holding AB (publ) after deciding that "financial services isn't my home port." He will continue as CEO until a successor is named, although will serve no more than six additional months.

IN OTHER PARTS OF THE WORLD

Asia-Pacific: Westpac in talks for fund sale; NAB faces fresh false ID witnessing claims

Middle East & Africa: EFG-Hermes seeks global expansion; KCB eyeing National Bank of Kenya

Latin America: Court dismisses Temer campaign case; Fitch sees more Mexican bank IPOs

North America: Mnuchin hints at superpowers; Puerto Rico votes to become 51st state

North America Insurance: HHS review finds improper payments by Medicare; US life sector grew profit in Q1

NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE

EU covered bond harmonization could bring change, savings for Spanish issuers: Spanish banks issuing covered bonds could face some significant changes as the EU looks to harmonize rules for the market, but they could also benefit from hefty cost savings.

David Hutter, Ed Meza, Danielle Rossingh, Gerard O'Dwyer, Beata Fojcik, Thanasis Kakalis, Ali Kayalar, Yael Schrage, Stephanie Salti, Praxilla Trabattoni and Mariana Aldano contributed to this report.

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