21st Oct 2014 12:40
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC is set to avoid a fine over its role in rigging Swiss franc Libor rates, Reuters reported on Tuesday, citing a person familiar with the matter.
JPMorgan Chase & Co, UBS AG and Credit Suisse Group AG are set to face fines totalling a collective USD115 million from European authorities for rigging the rate, Reuters reported on Tuesday, citing a person familiar with the matter.
The source said RBS had alerted the European Commission to the wrongdoing and would not be penalised for its role in the cartel.
http://uk.reuters.com/article/2014/10/21/uk-libor-banks-fine-eu-exclusive-idUKKCN0IA18520141021
By Sam Unsted; [email protected]; @SamUAtAlliance
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