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UBS pays to the Libor scandal once again

Swiss Bank UBS has consented to it, according to US authorities Friday in a payment of $ 68 million in the Libor scandal. The Bank wants an end to an investig

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UBS pays to the Libor scandal once again

Swiss Bank UBS has consented to it, according to US authorities Friday in a payment of $ 68 million in the Libor scandal. The Bank wants an end to an investigation in several States to its role in the Manipulation of the interest rate.

On the Libor and related benchmark interest hanging transactions etching in a volume of hundreds of billions of dollars, making small movements of the large profits. It is used for pricing about credit cards to mortgages.

It is the latest agreement in connection with the Manipulation of the London Interbank Offered Rate, such as Libor is officially called. UBS had paid to the American and European authorities are already fines and penalties in the amount of more than $ 1.5 billion.

16 international banks

involved In the last ongoing investigation into the General state involved lawyers from 40 U.S. States. This had previously concluded with financial institutions such as Barclays, Deutsche Bank and CitiBank comparisons and almost $ 500 million. "Our States said cross-examination is continued to pull the other banks, which have harmed consumers in Connecticut and across the country, accountable," Connecticut attorney General George Jepsen.

The office of New York solicitor General Barbara Underwood said that UBS had made fraudulent behavior, unjustified profits in the millions, while the state Bodies invested at the Bank, had been left in the dark. "Manipulative or fraudulent conduct, the integrity of our financial markets, undermining will not be tolerated," said Underwood.

Overall, traders from at least 16 international banks in the Libor conspiracy to be involved. Several banks had agreed in the past to billions of comparisons with various regulatory authorities in the United States and Europe. (ij/sda)

Created: 22.12.2018, 09:18 PM

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