UBS faces $1. 6 billion fine over Libor rigging: paper
ZURICH (Reuters) – UBS faces a fine of 1. 5 billion Swiss francs ($1. 63 billion) to settle interest rate rigging charges, a Swiss newspaper reported on Saturday. Citing unnamed sources, Tages-Anzeiger daily said the bank would admit 36 traders around the globe manipulated yen Libor between 2005 and 2010. A UBS spokesman declined to comment. People familiar with the matter told Reuters on Friday UBS could reach a $1-billion-plus settlement and admit to criminal wrongdoing by its Japanese arm, where one of its traders manipulated yen Libor and euroyen contracts. . . .
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