EU Said to Push to Fine Banks on Yen Libor, Euribor Rates
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European Union regulators are pushing to fine banks before the end of the year for attempting to fix benchmark interest rates tied to the euro and yen currencies, two people familiar with the investigation said.
Several banks want to resolve the antitrust probe and may negotiate with the EU for a settlement as early as October, said the people, who asked not to be named because the talks are in private. The EU would seek to include U.S. firms, such Citigroup Inc., that so far haven’t been punished by U.K. or U.S. regulators, one of the people said.