The Swiss big bank UBS will pay a total of $ 545 million to US authorities after investigations rigged exchange rates and interest rates.
It is partly about a fine of $ 342 million issued by the Federal Reserve and a further 203 million after the bank violated a previous agreement with Prosecutors in the United States regarding the manipulation of Libor.
This means that UBS now pleads guilty to manipulating Libor, which is an important reference interest rate. The Bank will however not pay anything to the Justice Department for their investigation into the currency market, writes the Financial Times.
UBS is one of five banks that investigated the manipulation of the huge foreign exchange market.
No comments:
Post a Comment