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    Swiss bank UBS fined for libor rate fraud

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    euronews (in English)

    by euronews (in English)

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    Swiss bank UBS has agreed to pay a fine of 1.5 billion US dollars after admitting libor fraud.

    The penalty, equivalent to more than 1.1 billion euros, will be paid to US, UK and Swiss regulators.

    The bank's chief executive Sergio Ermotti has told staff it is too early to say how and if customers were affected by the fraud.

    ...
    http://www.euronews.net/