E.U. to fine six global banks for rigging Euribor

Nov 05, 2013, 2:39 PM EST
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REUTERS/Luke MacGregor

E.U. antitrust regulators are reportedly set to impose multi-million euro fines on Deutsche Bank, JPMorgan Chase, Royal Bank of Scotland and three other banks for suspected rigging of the Euribor interest rate benchmark. The fines would come two years after E.U. antitrust authorities raided several global banks for suspected fixing of Euribor, the benchmark used as the basis for pricing 250-trillion-euros-worth of financial contracts, from Spanish mortgages to complex derivatives.

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