UBS fined in rate-rigging Libor scandal

Swiss bank UBS has agreed to pay £940 million in penalties over fixing the Libor interbank lending interest rate. The penalty was agreed with US, UK and Swiss regulators.

ITV News Economics Editor Richard Edgar reports:

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UBS fined £940m for rate-rigging

Swiss bank UBS has agreed to pay £940 million in penalties over fixing the Libor interbank lending interest rate. The penalty was agreed with US, UK and Swiss regulators. It is to pay a record £160 million fine to the Financial Services Authority.