In a statement published on Friday, Lloyds said it was in "late-stage" talks over the sum, but insisted it had not yet agreed on a final figure.
The bank could be facing a fine of £200m-300m, and is expected to pay the City regulator, the
It said: "
"LBG confirms that it is in late-stage settlement discussions with a number of agencies. The settlements remain to be agreed and LBG expects they will include the payment of penalties. LBG will update the market on these issues as appropriate."
Lloyds, which is 24% owned by the taxpayer, is poised to become the seventh institution to reach a settlement over the rigging of the benchmark interest rate.
Earlier this month, when the prospect of a settlement was first raised, Lloyds said it was co-operating with investigations.
At the time of the
"The remaining cases weren't as serious as the cases we took first," he said at the FCA's public meeting.
When RBS was fined £390m in 2013, the government demanded that bonuses were retracted in order to ensure that
Previous Libor fines have been accompanied by the release of pages of emails and electronic chats between traders, including details of attempts to manipulate rates. The Lloyds settlement is expected to involve a similar batch of documents. In the wake of the Libor scandal, several other examinations have begun into other benchmarks used to rate financial products around the world, and foreign exchange markets and the pricing of gold have also come under scrutiny.
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