July 25, 2014 / 6:22 AM / in 3 years

Lloyds confirms close to Libor settlement

LONDON, July 25 (Reuters) - Britain’s Lloyds Banking Group confirmed on Friday that it was close to agreeing a settlement over allegations of manipulating benchmark interest rates.

“LBG confirms that it is in late-stage settlement discussions with a number of agencies,” the bank said in statement.

Two sources familiar with the talks told Reuters late on Thursday that Lloyds would announce a fine next week in connection with a global scandal over the fixing of the London Interbank Offered Rate.

One source said the settlement, which will be the seventh joint UK and U.S. penalty in this inquiry, could be in the ballpark of 200 million to 300 million pounds. (Reporting by Carmel Crimmins, editing by William Hardy)

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