Barclays to pay US$20m to settle Libor suit
Plaintiffs also say that it will help them in their claims against other banks
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
BARCLAYS Plc has agreed to pay US$20 million and cooperate with a group of Eurodollar-futures traders suing other banks, to settle litigation over manipulation of the benchmark London interbank offered rate.
The accord, reached on Oct 8, resolves claims by people and firms that traded in Libor-based Eurodollar futures contracts and options on exchanges including the Chicago Mercantile Exchange from Jan 1, 2005, to May 31, 2010.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
