Five global banks to pay $5.7 bln fine on rate rigging
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NEW YORKMay 20, 2015 - 12:00 am GMT+3
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May 20, 2015 12:00 am
Authorities fined five of the world's largest banks, including JPMorgan Chase, Citigroup, Barclays and RBS, roughly $5.7 billion and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday.
The fifth bank, UBS AG, will plead guilty to rigging benchmark interest rates, the Justice Department said.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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