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Wednesday, October 23, 2013

Dutch lender faces $1B fine over Libor rigging.

Holland's Rabobank is reportedly facing a larger-than-expected fine of almost $1B over the alleged manipulation of Libor and other interbank lending rates. A settlement with U.S. and U.K. authorities, as well as with the Dutch central bank, could come next week. The penalty would be the second-largest for rate rigging, and while it is smaller than the $1.5B imposed on UBS (UBS), its size may concern other banks facing similar charges.

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