HSBC agrees to pay fee end Libor rigging lawsuit in U.S.

HSBC agrees to pay fee end Libor rigging lawsuit in U.S.

HSBC has agreed to pay £71.3 million to end private U.S. litigation

This was accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.

 

The preliminary accord with “over-the-counter” investors that transacted directly with banks on a panel to determine Libor, or the London Interbank Offered Rate, was disclosed in filings on Thursday with the U.S. District Court in Manhattan.

Court approval is required.

Settlements with the OTC investors total $590 million so far, and include $120 million with Barclays Plc, $130 million with Citigroup Inc and $240 million with Deutsche Bank AG.

Published: by Radio NewsHub
Start your relationship

If you are interested in receiving bulletins from Radio News Hub or would simply like to find out more please fill in the form below. We operate on annual contracts - spread the cost is available.

We aim to get back to you within 48 hours