real-time news and commentary for investors
Wednesday, Oct 23
Dutch lender faces $1B penalty over Libor rigging
- Holland's Rabobank is reportedly facing a larger-than-expected fine of almost $1B over the alleged manipulation of Libor and other interbank lending rates.
- A settlement with U.S. and U.K. authorities, and the Dutch central bank, could come next week.
- The penalty would be the second-largest for such misconduct, and while it is smaller than the $1.5B imposed on UBS, its size may concern other banks facing similar charges.