UBS may reach a LIBOR settlement deal

Swiss bank UBS may be near a Libor-related settlement with U.S. and U.K. regulators. Over its alleged role in the tampering of global interest rates, Switzerland’s biggest lender could be paying more than $466 million in penalties, says a Washington Post report. Citing an unnamed source close to the matter, the report says “an announcement […]

By Staff | December 3, 2012 | Last updated on December 3, 2012

1 min read

Swiss bank UBS may be near a Libor-related settlement with U.S. and U.K. regulators.

Over its alleged role in the tampering of global interest rates, Switzerland’s biggest lender could be paying more than $466 million in penalties, says a Washington Post report.

Citing an unnamed source close to the matter, the report says “an announcement may come as soon as next week.”

This could be one of the many settlements expected as U.S. and U.K. enforcers push other banks for similar agreements over allegations they tried to fix LIBOR and other interbank interest rates.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

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