Twelve global banks publicly linked to the Libor scandal face as much as $22B in combined...

|By:, SA News Editor

Twelve global banks publicly linked to the Libor scandal face as much as $22B in combined regulatory penalties and damages to investors and counterparties, according to admittedly "crude" Morgan Stanley estimates. The calculation excludes the potential fallout from ongoing U.S. and EU cartel investigations, which could result in multibillion-dollar fines.