Lloyds Banking Group to pay out £218m over Libor

Lloyds Banking Group is to pay fines totalling £218 million to UK and US authorities after it became the latest lender to be punished over the rigging of interest rate benchmarks.

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Mark Carney warns of 'further action' against Lloyds

The governor of the Bank of England has warned that Lloyds and its subsidiary Bank of Scotland could face "further action" over the manipulation of benchmark interest rates.

In a letter to Lloyds chairman Lord Blackwell, Mark Carney said the BoE's Prudential Regulatory Authority would now consider whether to take further steps.

"In view of the seriousness of this matter, the PRA will consider whether further action should be taken in relation to the Firms or individuals at the Firms."

The banks have been fined for manipulation of the LIBOR rate and Repo Rate.

Bank of Scotland was formerly part of HBOS, which was taken over by Lloyds in 2009.

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