Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Lloyds says close to Libor settlement that could reach £300m

Lloyds says close to Libor settlement that could reach £300m

Lloyds has confirmed that it is close to reaching settlement with regulators over Libor abuses following a Financial Times report that the company will pay a fine of up to £300 million.

‘LBG [Lloyds Banking Group] confirms that it is in late-stage settlement discussions with a number of agencies,’ the bank said in a short statement. ‘The settlements remain to be agreed and LBG expects they will include the payment of penalties.’

The FT reported that the settlement would include the publication of 40 emails showing traders discussing how to manipulate Libor benchmark values between 2006 and 2009.

A person familiar with the investigation said that the bank was likely to face more limited criticism than others such as Barclays, due to the wholesale change of management at Lloyds since 2009.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter