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4 years ago
Rabobank sees settlement over Libor, Euribor scandals within 2 weeks
October 23, 2013 / 1:16 PM / 4 years ago

Rabobank sees settlement over Libor, Euribor scandals within 2 weeks

AMSTERDAM, Oct 23 (Reuters) - Dutch lender Rabobank said on Wednesday it expects settlements with the authorities over its alleged role in the manipulation of benchmark interest rates within the next two weeks, but did disclose the size of any payment.

"Various authorities have almost completed their investigation into Rabobank's role in the Libor and Euribor setting process," it said in a statement.

"Rabobank expects to be able to enter into settlements with these authorities within the next two weeks. Rabobank is not yet in a position to comment on possible settlement amounts."

Sources familiar with the negotiations have said the bank may face a fine of $1 billion.

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