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Five global banks fined €5-bln over rate rigging


economy

Five global banks fined €5-bln over rate rigging

Five of the world’s biggest banks will pay nearly five billion euros to US and British authorities for manipulating foreign exchange rates.
Four of them, JP Morgan, Citigroup, Barclays and Royal Bank of Scotland, have also pleaded guilty to criminal charges relating to the inquiry.

The US Justice Department says the fifth bank, Switzerland’s UBS will also admit rigging benchmark interest rates.

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