The European Union levied fines on multiple banks for manipulating Euribor and Yen Libor. Those are count parts to Libor. Penalties based on legal concept of operating an illegal cartel.
Money Beat provides a recap in The European Union’s Benchmark Fines: A Breakdown:
- Euribor Yen Libor bank
- € 0 Barclays
- €259m €465m Deutsche Bank
- €446m Societe Generale
- €260m €131m RBS
- € 0 UBS
- € 80 JPMorgan
- € 70m Citigroup
- € 0.2m RP Martin
That’s a total of about €1.7 billion, or $US2.3B, according to several articles.
Barclays and UBS each got a pass on a fine for reportedly blowing the whistle on the rate-rigging.
Investigations continue for three other banks.
This is separate from the Libor rate-rigging and fines associated with that index.
Lots of articles out today on the settlement. Most helpful for me is this one from Forbes: Big Banks Fined $2.3B Over Illegal Libor Cartels, More Fines On The Way.