Traders from Deutsche Bank and Barclays take to the stand in the first Euribor rigging trial. Euribor is the Brussels-based benchmark interest rate lenders charge each other to lend euros.
A trial in London to last several months is looking into benchmark-rigging offences committed between 2005 and 2009. Among the defendants are traders from Germany's largest lender, Deutsche Bank, and Barclays.
France’s second-biggest bank Societe Generale has agreed with the US to pay penalties exceeding $1 billion to settle allegations it bribed officials in Libya, and manipulated the Libor interest rate benchmark.
The EU Commission has fined banks Credit Agricole, HSBC and JPMorgan Chase for their part in a cartel to fix the price of financial benchmarks linked to the euro. Three other banks were already fined.
Deutsche Bank has reached a $7.2 billion agreement to resolve a US investigation into its dealings in mortgage-backed securities. The deal removes a major legal hurdle for the bank.
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