Citibank to pay $425 million for attempted benchmark manipulation | business | Hindustan Times
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Citibank to pay $425 million for attempted benchmark manipulation

Citibank and its affiliates has agreed to pay a collective $425 million to resolve civil charges that the bank attempted to manipulate several key benchmarks.

business Updated: May 25, 2016 19:26 IST
Citibank and its affiliates has agreed to pay a collective $425 million to resolve civil charges that the bank attempted to manipulate several key benchmarks.
Citibank and its affiliates has agreed to pay a collective $425 million to resolve civil charges that the bank attempted to manipulate several key benchmarks.

Citibank and its affiliates has agreed to pay a collective $425 million to resolve civil charges that the bank attempted to manipulate several key benchmarks, including the US dollar ISDAFIX, the Yen Libor and the Euroyen TIBOR, the Commodity Futures Trading Commission said.

The CFTC said on Wednesday the bank was also charged with false reporting in connection with ISDAFIX benchmark rates and with false reporting of US dollar Libor rates during the financial crisis to protect its reputation.