News Column

PRESS: Lloyds To Pay Up To GBP300 Million In Libor Fines - FT

July 24, 2014

Samuel Agini

LONDON (Alliance News) - Lloyds Banking Group PLC is preparing to disclose it will pay GBP200 million to GBP300 million to regulators in order to settle allegations that it manipulated the London interbank offered rate, the Financial Times reported online on Thursday.

Citing three people familiar with the situation, the FT said Lloyds' announcement is expected to come before its report interim results release next Thursday.

The newspaper said the settlement is expected to include fines paid to the Commodity Futures Trading Commission and Department of Justice in the US and to the Financial Conduct Authority in the UK.

The FT said Lloyds declined to comment on the timing or size of any settlement. According to the report, Lloyds said that it was "co-operating with investigations."

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Source: Alliance News

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