June 21, 2018 / 2:34 AM / 5 months ago

Australia's CBA says court approves rate-manipulation settlement

June 21 (Reuters) - Commonwealth Bank of Australia said on Thursday the federal court had approved its settlement with the Australian Securities and Investments Commission (ASIC) in relation to the trading of bank bills in connection with the bank bill swap rate.

The bank has agreed to pay a A$5 million ($3.7 million) penalty, A$15 million to a financial consumer protection fund and A$5 million towards ASIC’s costs. ($1 = 1.3554 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

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