The Royal Bank of Canada is among 16 multinational banks that have to face lawsuits in the U.S. over their role in an interest rate rigging scandal. The U.S. Court of Appeals for the Second Circuit in Manhattan cleared the way for the suits in a ruling Monday, the Wall Street Journal reported, along with a warning that the banks involved face possible bankruptcy.

A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto on Jan. 22, 2015. (Photo: Mark Blinch/Reuters) That’s because U.S. anti-trust laws require the paying of triple damages in cases where price-fixing is involved. Paying triple damages could “bankrupt 16 of the world’s most important financial institutions,” the court warned, as quoted at Bloomberg. Other banks involved in the Manhattan lawsuit include Bank of America, Credit Suisse, Deutsche Bank, HSBC and the Royal Bank of Scotland. RBC is the only Canadian bank affected by the appeals court's decision. “The Second Circuit decision does not indicate any findings against RBC in a court of law, and we will be vigorously defending against the civil action," Gillian McArdle, spokesperson for RBC Capital Markets, wrote in a statement to HuffPost. "It is also important to note that there have been no allegations of wrongdoing brought against RBC by any government body or regulator with respect to LIBOR. “