Britain's ICAP nears Libor settlement - WSJ

Sept 22 Sun Sep 22, 2013 11:50pm EDT

Sept 22 (Reuters) - Britain's ICAP PLC may pay less than $100 million to settle a civil probe into the markets operator's alleged role in the manipulation of a key interest rate, the Wall Street Journal reported, citing people familiar with the settlement talks.

The agreement could come as soon as Wednesday, and would be the fourth in an investigation into the alleged manipulation of the London interbank offered rate, or Libor, and other benchmarks on which are based interest rates on trillions of dollars of loans. ()

Barclays PLC, UBS AG and Royal Bank of Scotland Group have agreed to pay a total of about $2.5 billion in settlements since last summer.

ICAP could not immediately be reached for comment by Reuters outside of regular U.S. business hours.

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