Banks eye deal in UK over Libor, forex fix
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New York
LARGE American and European banks are nearing settlement deals with British regulators over rigging interest rates and manipulating the foreign exchange market, according to sources.
The overall settlement for charges of illegally manipulating the London Interbank Offered Rate (Libor) would be billions of dollars. The scale of penalties is similar in the talks over manipulation of forex rates, said people familiar with the matter.
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