Arab Today, arab today swiss bank ubs close to libor settlement
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Swiss bank UBS close to Libor settlement

Arab Today, arab today

Arab Today, arab today Swiss bank UBS close to Libor settlement

Washington - UPI

Swiss banking giant UBS is close to reaching a deal with regulators to settle charges of interest rate manipulation, sources told The Wall Street Journal. It is expected that the bank will pay more than $1 billion to settle charges that it attempted to manipulate the London inter bank offered rate, or Libor, which is an average lending rate among banks and is used to establish the rate for hundreds of trillions in commercial and personal loans and other contracts. UBS would be the second bank to settle charges against it for Libor manipulation. Last summer, British bank Barclays paid $450 million to settle charges against it. Meanwhile, regulators have been investigating at least a dozen other major banks. The scandal shook Barclays right up to the top. Several top executives, including its chief executive officer, were forced to resign after the settlement was announced. The New York Times reported Thursday that a deal with UBS and regulators from the United States, Britain and Switzerland could be announced early next week. Among new developments, Royal Bank of Scotland and Deutsche Bank have both indicated they were preparing to pay settlements with authorities. British regulators Tuesday arrested three people involved in interest rate manipulation, including Thomas Hayes, who worked as a trader for UBS in Tokyo from 2006 to 2009 and then went to Citigroup, where he was fired for allegedly attempting to involve himself with rate manipulation.

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 swiss bank ubs close to libor settlement Arab Today, arab today swiss bank ubs close to libor settlement

 



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 swiss bank ubs close to libor settlement Arab Today, arab today swiss bank ubs close to libor settlement

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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
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