US: JPMorgan and Deutsche Bank settle LIBOR allegations

On July 21, JPMorgan Chase & Co and Deutsche Bank AG agreed to pay US$71 million and US$77 million respectively to end private litigation claims of manipulation of the yen LIBOR and Euroyen TIBOR.

The settlements are still subject to a judge’s approval, but follow similar settlements from Citigroup and HSBC last year.

The settlements admit to no wrongdoing or liability on the part of the banks, according to the filings.

Full Content: Reuters

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