UBS could be fined around $1 billion by US and UK regulators to settle claims the bank was involved in rigging Libor, according to reports.
The fine would be more than double the record amount paid by Barclays earlier this year, which amounted to $467.9 million, the Financial Times reported.
The charge would mark another landmark fine imposed on a bank that is understood to have been involved in the Libor-rigging scandal.
One source told Reuters: ‘The global settlement is about $1 billion. It's expected early next week, on Monday or Tuesday.’