Arab Today, arab today eu to hit banks with huge fines over raterigging
Last Updated : GMT 06:19:42
Arab Today, arab today
Arab Today, arab today

EU to hit banks with huge fines over rate-rigging

Arab Today, arab today

Arab Today, arab today EU to hit banks with huge fines over rate-rigging

London - AFP

The European Union is set to impose multibillion-euro fines on banks alleged to have manipulated key interest rate benchmarks Euribor and Yen Libor, the Financial Times reported on its website Tuesday. Royal Bank of Scotland, Deutsche Bank and Societe Generale are ready to pay penalties next month after reaching an agreement with Brussels. JPMorgan, HSBC and Credit Agricole could pay later without signing such an agreement, according to the financial daily. Societe Generale and Credit Agricole both refused to comment on the report when contacted by AFP. The banks who have agreed a settlement can expect a reduced fine Libor and Euribor are estimates of the rates at which banks lend money to each other and are based on estimates provided by a panel of banks. The index is used to set rates on a multitude of contracts and financial products. The manipulation of such indices has already led to significant fines for banks. The scandal erupted last year when Barclays was fined $290 million ($466 million, 339 million euros) by British and US regulators for attempted manipulation of interbank rates between 2005 and 2009. More recently, in late October, the Dutch Rabobank announced it would pay a 774 million-euro fine to settle allegations it manipulated Libor.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu to hit banks with huge fines over raterigging Arab Today, arab today eu to hit banks with huge fines over raterigging

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu to hit banks with huge fines over raterigging Arab Today, arab today eu to hit banks with huge fines over raterigging

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday