Regulators in America, Britain and the Netherlands are fining Dutch Rabobank $1.07 billion for its alleged role in fixing inter-bank rates, reports Reuters.
The regulators say 30 of the bank’s employees were involved in “inappropriate conduct” and helped to manipulate LIBOR and its European equivalent, EURIBOR, Reuters says. It affected more than $300 trillion in financial products.
The fine is the fifth penalty handed out by regulators in the LIBOR scandal. Four other institutions have already been fined a total of $2.7 billion.
Read more here.