Three large investment banks will be fined $115 million collectively by the European Union for rigging the Swiss franc Libor benchmark, according to a Reuters report on Tuesday, which cited an anonymous person familiar with the matter. J.P.Morgan Chase & Co. will be fined $89 million, and Credit Suisse and UBS will be fined the rest, according to the report. Royal Bank of Scotland was the whistleblower, so will not be fined.
Copyright © 2014 MarketWatch, Inc.
Continue Reading Below