Interest rate fines come as Barclays, JPMorgan, RBS and Citigroup are all expected to plead guilty to charges that they manipulated exchange rates for as much as a decade
[Swiss UBS first to pay $545mn fine over forex rigging] http://rt.com/business/260289-ubs-fine-rates-manipulation/
[Swiss UBS first to pay $545mn fine over forex rigging] http://rt.com/business/260289-ubs-fine-rates-manipulation/
Barclays may face a further fine from the US Justice Department over interest rate rigging, though it is not expected to plead guilty to the crime like Swiss bank UBS.
That fine, which could be as much as $60 million, comes on top of penalties facing Barclays and four other banks for manipulating currency benchmarks, according to Bloomberg.
Barclays and UBS had a non-prosecution agreement over Libor, but it is not expected to plead guilty to charges that it rigged the London Interbank Offered Rate, as UBS did.
However Barclays, JPMorgan, RBS and Citigroup are all expected to plead guilty to charges that they manipulated currency markets through exchange rates for as much as a decade.
- Read more: http://www.independent.co.uk/news/business/barclays-may-face-more-fines-in-the-us-over-the-libor-interest-rate-rigging-scandal-explainer-10251940.html
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