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U.S. rate-rigging payouts top $500 million as final banks settle

From reuters.com

Investors have reached $96 million in settlements with the final five defendants in private U.S. litigation accusing banks of rigging a key interest rate benchmark in the global derivatives market, boosting the total payout to more than $500 million. BNP Paribas SA (BNPP.PA) and Morgan Stanley (MS.N) will each pay $33.5 million, Nomura Holdings Inc (8604.T) and Wells Fargo & Co (WFC.N) will each pay $8.75 million, and brokerage ICAP Capital Markets LLC will pay $11.5 million, according to filings on Friday night in U.S. District Court in Manhattan. Upon receiving court approval, the settlements would increase the ... (full story)

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