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Citi, Deutsche & HSBC To Pay Nearly $132 Million in Settlements for Libor Manipulation Class Action

Citi, Deutsche & HSBC To Pay Nearly $132 Million in Settlements for Libor Manipulation Class Action

Citigroup, Deutsche Bank and HSBC will pay a combined $132 million ($33 million, US$80 million, $18 million)  in settlements in a US class action.  Futures traders have brought the class action against the 3 banks for manipulating the Libor benchmark interest rate.

” Citigroup, Deutsche Bank & HSBC to pay combined $132 million in settlements for Libor Manipulation “

According to the filing in Manhattan Federal Court, the settlements will go to selected groups who had traded in Eurodollar futures on exchanges, including Chicago Mercantile Exchange for the period of 2003 to 2011, and possibly before & after.

Source: SCMP, Reuters

 


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