Banks in Libor Probe Mull Group Settlement
20 July 2012 - 12:40PM
Dow Jones News
Banks under investigation for possible collusion in a widening
interest rate scandal are mulling a group settlement to avoid a
Barclays-style backlash from regulators and politicians, Reuters
reported late Thursday, citing unnamed sources.
The Reuters report didn't say which banks were banding together.
Barclays was the first to admit to manipulating Libor borrowing
rates, and was fined over $450 million in total.
The banks being probed include Credit Suisse, Citigroup,
JPMorgan and HSBC. They all declined comment, according to the
report.
Full story:
http://www.reuters.com/article/2012/07/20/us-banking-libor-settlment-idUSBRE86J00
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