UBS says quits Euribor panel
ZURICH, March 19
ZURICH, March 19 (Reuters) - UBS said on Tuesday it is pulling out of a panel that sets money market benchmark Euribor.
"We have decided to withdraw from the Euribor panel and to focus on our core funding markets Swiss Franc and U.S. dollar,"
a UBS spokesman said, adding the decision comes after an October decision to shut down vast parts of its investment bank.
The Swiss bank paid a $1.5 billion fine in December over its role in a global scheme to manipulate rates.
UBS, which also exited an Australian rates panel earlier this month, follows Rabobank in exiting Euribor.
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