A PYMNTS Company

EU: Banks look towards quick resolution on LIBOR case

By  |  April 25, 2013
EU: Banks look towards quick resolution on LIBOR case

Various major banks currently under investigation by the European Commission over concerns regarding the manipulation of benchmark interest rates such as LIBOR are reportedly hoping for a quick ruling from regulators. In a statement made by Commissioner Joaquin Almunia to reporters in Berlin on Thursday, he noted that a “quick decision” is most likely what the businesses are hoping to encounter. The Commission is seeking a resolution, including fining the banks alleged to have manipulated the rates, by the end of the year, according to two sources. Those sources also suggested that some banks may settle earlier, perhaps by October. The Commission is currently looking into Barclays Blc, Deutsche Bank AG, UGB AG and Royal Bank of Scotland Group Plc.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.