EU Commission fines banks $2.3 billion for benchmark rigging

EU Commission fines banks $2.3 billion for benchmark rigging

BRUSSELS Wed Dec 4, 2013 12:34pm EST

(Reuters) - EU antitrust regulators vowed to keep investigating rate- rigging on Wednesday as they slapped a record 1.7 billion euro ($2.3 billion) penalty on six financial institutions including Deutsche Bank, RBS and JPMorgan.

The fines by the Commission, which along with authorities around the globe has been examining the manipulation of London interbank offered rate (Libor) and its euro equivalent Euribor, takes the tally of penalties related to the scandal to almost $6 billion.

Confirming what a source familiar with the matter had previously told Reuters, EU Competition Commissioner Joaquin Almunia said he had been shocked at the scale of the scam and was sending a clear message that Brussels would fight and impose sanctions on cartels.

Deutsche Bank, which has yet to be fined by U.S. and UK regulators as part of separate investigations into benchmark interest-rate fixing, received the highest fine of 725.4 million euros.

Germany's largest lender and RBS were fined for their involvement in both the Euribor and Libor cartels.

FULL STORY: http://www.reuters.com/article/2013/12/04/us-eu-commission-idUSBRE9...

 

Views: 155

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Sweettina2 on December 5, 2013 at 2:18pm

I know they did this, but they've done it before....they get fined and pay nothing. And continue to do it again. Business as usual.  Thanks for the post, sharing.

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

Terror on All Hallows Eve

Chapter IElizabeth was angry. All of her friends were going to be out on Halloween, but her. She…See More
21 hours ago
Jeff favorited Jeff's profile
yesterday
Jeff favorited Jeff's profile
yesterday
Jeff favorited Doc Vega's profile
yesterday
Jeff is now a member of 12160 Social Network
Sunday
Doc Vega posted blog posts
Friday
tjdavis posted a video

How Corporations Are Secretly Poisoning Our Food Supply

Dupont and 3M have been secretly poisoning America for decades. PFAs — also known as forever chemicals—are now in our food, water, clothes, and our blood. Th...
Friday
Doc Vega posted a blog post

They Won’t Stop

 The demonically driven left will not stop. Makes no difference how much violence they call for or…See More
Wednesday
Doc Vega posted a blog post

What US Scientist unwittingly helped the Nazis devise the V-2 Missile?

  In the early 1920’s and leading up to World War II German technology outpaces the peace time…See More
Oct 20
tjdavis favorited Sandy's video
Oct 19
tjdavis posted a photo
Oct 19
Christopher Walker is now a member of 12160 Social Network
Oct 19
tjdavis posted videos
Oct 19
Burbia commented on tjdavis's photo
Thumbnail

Reflection

"Let's see if this goes past indictment."
Oct 18
Doc Vega commented on Doc Vega's blog post Something Watches From Out there in the Wilderness
"cheeki kea That's very interesting history. So many things about history that go ignored or…"
Oct 18
Burbia commented on Burbia's video
Oct 18
Burbia posted a video

Programmed To Kill/Satanic Cover-Up Part 433 (The Charlie Kirk Conspiracy Show)

https://www.programmedtokill.net/projects---- DISCLAIMER! ----Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair u...
Oct 18
cheeki kea commented on cheeki kea's photo
Thumbnail

American werewolf- 2018

"Yip I've looked again and this is what the creature looks like, even has stripes just like…"
Oct 18
cheeki kea commented on cheeki kea's photo
Thumbnail

American werewolf- 2018

"The mystery continues I guess. ( reminds me of something out of the under world )"
Oct 18
cheeki kea posted a photo
Oct 18

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted