Lloyds set to pay £200-£300M in Libor fines


The bank will announce before it reports earnings on July 31 a fine in that range to settle U.S. and U.K. charges it manipulated major interest rate benchmarks, reports the FT.

Lloyds (LYG +0.3%) - 25% owned by the U.K. government - will be the 7th bank to be fined by authorities over rate-rigging. Alongside the fine announcement will be the release of a number of emails ("What do you got for me big boy?") allegedly showing traders conspiring to manipulate the benchmarks over the period from 2006-09.

The settlement will wipe away one area of uncertainty ahead of the U.K.'s plan to sell a 15-20% stake in the bank back to the public.

From other sites
Comments (1)
  • confused1978
    , contributor
    Comments (24) | Send Message
     
    It's already baked in.
    24 Jul 2014, 10:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs