UBS faces $1 billion fine for Libor rigging

Dec 14 2012, 10:38 IST
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Swiss bank UBS is expected to pay about $1 billion to settle charges of rigging Libor interest rate benchmark.  (Reuters) Swiss bank UBS is expected to pay about $1 billion to settle charges of rigging Libor interest rate benchmark. (Reuters)
SummarySwiss bank UBS is expected to pay about $1 billion to settle charges of rigging Libor interest rate.

point. Such a move could still benefit their own trades in bonds or more complex deals linked to that rate.

Banks found guilty also face civil lawsuits from those they traded with. Some borrowers complain they paid more interest than they should have, although others may have paid less.

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