London, Dec 27 : Britain's Financial Services Authority fined Swiss bank UBS 160
million pounds for manipulating the Libor interest rate in four countries over
six years.
UBS said separately it will pay a total of 1.4 billion Swiss
francs to settle charges with Swiss, UK and U.S. regulators for manipulating the
London interbank offered rate (Libor).
"The integrity of benchmarks such
as LIBOR and EURIBOR are of fundamental importance to both UK and international
financial markets. UBS traders and managers ignored this," FSA director of
enforcement Tracey McDermott said in a
statement.
Ends
SA/EN
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