Regulators announced Wednesday fines of more than $5bn against six banks
Global regulators have Wednesday issued
fines of more than $5bn over benchmark manipulation, with
Barclays alone slapped with fines amounting to over $2.5bn.
UBS, Barclays, Citigroup, JP Morgan, Royal
Bank of Scotland and Bank of America Corporation have all been
hit with fines.
Barclays fared the worst. The bank has
been ordered to pay penalties of more than $2.5bn to the New
York State Department of Financial Services (NYDFS), US
Commodity Futures Trading Commission (CFTC), the US Department
of Justice (DOJ) and the Federal Reserve.
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