Barclays To Pay $450M For Alleged Rate Manipulations

Law360, New York (June 27, 2012, 12:00 PM EDT) -- Barclays PLC has agreed to pay more than $450 million to U.S. and U.K. regulators to settle allegations that it manipulated two key interest rates set by British and European bankers, the U.S. Commodity Futures Trading Commission said Wednesday.

The CFTC issued an order filing and settling charges against the bank, saying that through its traders and other employees, Barclays tried to manipulate, and made false reports concerning, the London Interbank Offered Rate and the Euro Interbank Offered Rate. The CFTC ordered the bank to pay...
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