(Reuters) - Dutch lender Rabobank RABO.UL expects a fine from regulators over its alleged role in the manipulation of benchmark interest rates, which one source put at around $1 billion (£618.2 million), in the next two weeks. That would make Rabobanks penalty the fifth Libor-related settlement and the second-biggest in a global investigation into the rate-rigging scandal. Swiss bank UBS (UBSN.VX) paid a record fine of $1.5 billion late last year. More than a dozen banks and brokerages are being investigated by regulators and anti-trust watchdogs worldwide for manipulating benchmark rates such as Libor and Euribor, which are used to price trillions of dollars of products from derivatives to credit cards.
Posted on: Mon, 28 Oct 2013 06:13:37 +0000
Trending Topics
Recently Viewed Topics
© 2015