Barclays Settles Allegations It Manipulated Rates
- Published on Wednesday, 27 June 2012 15:08
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US (CNN Money): Fortune - U.K. bank Barclays agreed to pay $453 million to settle claims brought by U.S. and U.K. bank regulators and law enforcement officials that the bank participated in a scheme to fix two key lending rates, including the closely watched LIBOR, which affects as much as $350 trillion in loans and derivatives.
Of the $453 million paid by Barclays, $200 million was to the Commodity Futures Tradings Commission, which is the largest civil fine levied by that regulator in history. The bank agreed to pay another $160 million to settle charges brought by the U.S. Department of Justice, and nearly $93 million to the U.K. Financial Services Authority.
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