October 22, 2017 / 11:55 PM / a year ago

ANZ Bank says reaches settlement over rate rigging

Oct 23 (Reuters) - Australia and New Zealand Banking Group Ltd said it has reached a deal with the Australian Securities and Investments Commission (ASIC) to settle court proceedings relating to possible manipulation of the bank bill swap rate.

ANZ, Australian’s No.3 lender, declined to say how much it would have to pay under the terms of the settlement, stating that it had reached a “confidential in-principle agreement” with the regulator.

The financial impact of the settlement will be reflected in the bank’s fiscal 2017 earnings due later this week, the bank said in a statement. (Reporting By Shashwat Pradhan in Bengaluru; Editing by Eric Meijer)

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