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Group of banks including Citigroup Inc fined 1.7 billion euros for benchmark rigging-Reuters


Tuesday, 3 Dec 2013 07:00pm EST 

Citigroup Inc:Is part of a group of European and American banks fined 1.7 billion euros ($2.3 billion) by the European Commission-Reuters.The fine is for the rigging of interest rate benchmarks.The benchmarks involved are the London interbank offered rate Libor, the Tokyo interbank offered rate and the euro area equivalents.The commission fined Citigroup Inc 70 million euros for three infringements regarding Yen Libor.The other banks to be fined are Societe Generale, Deutsche Bank, Royal Bank of Scotland, JPMorgan and Barclays. 

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