An overview is given on Random Telegraph Noise (RTN) in MOS-based devices. First, the basic properties and physics are briefly outlined, emphasizing the stochastic nature of its main parameters: the capture and emission time constant, while its amplitude is fixed and specific for each trap. Different techniques exist to characterize RTN in MOS devices, either by time or frequency domain measurements. A distinction can also be made between dynamic equilibrium methods like noise spectroscopy or transient measurements, based on a Deep-Level Transient Spectroscopy approach. While single-device based RTN measurements are still of high value, for modern circuit applications, techniques are being developed allowing a fast assessment of RTN in a large number of transistors. The scaling of CMOS technologies to the 32 nm and below raises the issue of variability induced either by random dopant fluctuations or in general, by random charge fluctuations, both spatially and in time. As will be seen, the presence of traps responsible for RTN brings about an additional source of variability which may become dominant in future memories. Finally, it will be shown that RTN is not only a fundamental component of 1/f noise but the same oxide traps are also largely responsible for the Bias Temperature Instability (BTI) in scaled MOSFETs. This leads to a selfconsistent model for BTI and a stochastic approach towards the reliability prediction of deep submicron CMOS technologies.